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of <h1>Royalty Income From Mines Taxable in Full, Even If Used for Debt Repayment, Rules Court in Tax Case.</h1> <h3>Commissioner Of Income Tax Versus Manager Of Katras Encumbered</h3> The HC ruled that the entire royalty income received by the mine proprietor from the company is taxable, irrespective of its allocation towards debt ... - The case involved a mine proprietor receiving royalty income from a company to pay off a debt. The court held that the entire royalty amount is taxable as the income of the proprietor, even if part of it was used to repay the debt. The judgment was in favor of the Commissioner of Income Tax.
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