2019 (6) TMI 305

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..... the outset the Counsel for the appellant submitted that out of the four questions, three questions are covered against the appellant-Revenue. The first is with respect to the admissibility of the deduction expenditure towards contribution to the State Renewal Fund stands covered by the judgment of this Court in the case of Principal Commissioner of Income Tax Vs. M/s. Rajasthan State Seed Corpora .....

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..... han State Mines & Minerral Ltd. Vs. Assistant Commissioner of Income Tax decided on 13.12.2017. 4. On the 4th question i.e. with respect to allowing depreciation or amortization of mining land and lease hold land, the assessee had not claimed in its return. This was the ground of rejection, the CIT (A) confirmed the AO's order. It is urged on the strength of the authority of Supreme Court in Goet .....

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..... opyrights, trade marks, licences, franchises or any other business or commercial rights of similar nature, being intangible assets acquired on or after the 1st day of April, 1998, 13.1. In our considered opinion, the rights which are given to the assessee are of commercial rights which are akin to license for mining. 13.2. In that view of the matter, the contention of the assessee regarding depr .....

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