Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2014 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (3) TMI 248 - AT - Income TaxDisallowance of contribution afforastation funds - revenue or capital expenditure - Amount paid to the DFO for mining operation – Held that:- The assessee is not acquiring any asset nor enduring benefit but is having only a right to work of mining in the land given to him for a specific period on lease – thus, the amount is practically a revenue expenditure incurred by the assessee while doing his trade of mining operation – thus, the claim of the assessee to allow the same as revenue expenditure is very much within the provisions of the Act – thus, the order of the CIT(A) set aside and the AO is directed to allowe the expenditure as revenue expenditure – Decided in favour of Assessee.
|