Home Case Index All Cases Income Tax Income Tax + SC Income Tax - 1972 (9) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1972 (9) TMI 12 - SC - Income TaxSugar factory - on the facts and circumstances of this case, the expenditure incurred, i.e., 2% royalty on the sugar manufactured, is revenue expenditure. Our answer to the question, therefore, is that the two payments in respect of the monopoly rights for the years 1950-51 and 1952-53 are of capital nature while those paid for royalty for the three assessment years under consideration are of a revenue nature deductible under section 10(2) (xv)
|