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Carried on by him

exercise of an activity as the essential constituent of that which is to produce the taxable income, E.D. Sassoon and Co. Ltd. v. Commissioner of Income Tax Bombay, (1955) 1 SCR 313: AIR 1954 SC 470 (491).

Earned

Earned, the term cannot be divorced from that of income accruing to the assessee, E.D. Sassoon and Co. Ltd. v. Commissioner of Income Tax, AIR 1954 SC 470: (1955) 1 SCR 313. (Indian Income-tax

Income

a periodical monetary return 'coming in' with some sort of regularity, or expected regularity from definite sources, E.D. Sassoon and Co. Ltd. v. Commissioner of Income Tax, AIR 1954 SC 470: (1955) 1 SCR 313. The expression

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