https://www.taxtmi.com/caselaws?id=38682 Wealth-tax paid on agricultural lands may qualify as deductible expenditure under section 5(j) of the Kerala Agricultural Income-tax Act, 1950, but only if it was wholly and exclusively incurred for the purpose of deriving agricultural income. The Court treated the real controversy as the deductibility of wealth-tax and accepted that such tax can fall within the provision in principle, yet emphasised that the statutory requirement must be satisfied on its own terms. Because the relevant factual inquiry had not been examined by the taxing authorities, the matter was left for determination by the Tribunal. en-us Tue, 20 Sep 1977 00:00:00 +0530 Thu, 08 Apr 2010 12:42:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38682 Wealth-tax paid on agricultural lands may qualify as deductible expenditure under section 5(j) of the Kerala Agricultural Income-tax Act, 1950, but only if it was wholly and exclusively incurred for the purpose of deriving agricultural income. The Court treated the real controversy as the deductibility of wealth-tax and accepted that such tax can fall within the provision in principle, yet emphasised that the statutory requirement must be satisfied on its own terms. Because the relevant factual inquiry had not been examined by the taxing authorities, the matter was left for determination by the Tribunal. Case-Laws Income Tax Tue, 20 Sep 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38682