https://www.taxtmi.com/caselaws?id=782402 HC dismissed the assessee's claim for deduction of interest paid on delayed payment of Agricultural Income Tax (AIT) under s. 37. It held that agricultural income is excluded from total income under s. 10(1), so AIT itself is not an allowable deduction, and interest takes the same character as the underlying non-deductible tax. The court further held that interest for delayed AIT payment is not expenditure incurred "for the purpose of business or profession." Relying on SC precedent, the HC denied deduction and rejected the appeal. en-us Tue, 25 Nov 2025 00:00:00 +0530 Fri, 28 Nov 2025 08:24:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782402 HC dismissed the assessee's claim for deduction of interest paid on delayed payment of Agricultural Income Tax (AIT) under s. 37. It held that agricultural income is excluded from total income under s. 10(1), so AIT itself is not an allowable deduction, and interest takes the same character as the underlying non-deductible tax. The court further held that interest for delayed AIT payment is not expenditure incurred "for the purpose of business or profession." Relying on SC precedent, the HC denied deduction and rejected the appeal. Case-Laws Income Tax Tue, 25 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782402