https://www.taxtmi.com/caselaws?id=37818 Expenditure incurred wholly and exclusively for earning income from any other source is exempt under section 5(a) of the Expenditure-tax Act, 1957, including spending on the maintenance, training and running of race horses when it is directed to earning racing income. The wider language of section 5(a) is not confined by narrower Income-tax Act authorities that did not consider its full scope. A Board circular stating that expenditure on purchase, maintenance, training and making horses fit for racing is exempt must be followed by the taxing authorities and gives administrative support to the exemption. en-us Wed, 26 Oct 1977 00:00:00 +0530 Thu, 01 Apr 2010 12:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37818 Expenditure incurred wholly and exclusively for earning income from any other source is exempt under section 5(a) of the Expenditure-tax Act, 1957, including spending on the maintenance, training and running of race horses when it is directed to earning racing income. The wider language of section 5(a) is not confined by narrower Income-tax Act authorities that did not consider its full scope. A Board circular stating that expenditure on purchase, maintenance, training and making horses fit for racing is exempt must be followed by the taxing authorities and gives administrative support to the exemption. Case-Laws Income Tax Wed, 26 Oct 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37818