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2015 (8) TMI 645 - AT - Income TaxAddition on account of capital expenditure - CIT(A) deleted the addition - Held that:- The issue is squarely covered in favour of the assessee by the decision of the Income-tax Appellate Tribunal, Kolkata Bench in the case of group concern of the assessee in the case of Asst. CIT v. Rungta and Sons (P) Ltd. [2014 (1) TMI 1515 - ITAT KOLKATA].The Tribunal had found that the decision of the hon'ble apex court in the case of Bikaner Gypsums Ltd. v. CIT [1990 (10) TMI 2 - SUPREME Court] applied to the case of the assessee and the expenditure cannot be treated as capital expenditure as expenditure paid by the assessee as NPV to enable the assessee to carry on its mining business is revenue in nature, which is allowable as business expenditure under section 37(1) of the Act. - Decided in favour of assessee.
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