https://www.taxtmi.com/caselaws?id=67559 Recurring annual payments made for working permission to extract rock phosphate were treated as revenue expenditure where no valid mining lease deed compliant with the Mines and Minerals (Regulation and Development) Act, 1957, the Mineral Concession Rules, 1960, and Article 299 was executed. On the facts, the assessee operated as a licensee rather than a lessee, and the payment, though described as special lease money, was for concessions and privileges to extract mineral stock-in-trade. As it did not secure any enduring asset or advantage, the amount was allowable as business expenditure. en-us Fri, 29 Oct 1993 00:00:00 +0530 Fri, 11 Mar 2011 12:50:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67559 Recurring annual payments made for working permission to extract rock phosphate were treated as revenue expenditure where no valid mining lease deed compliant with the Mines and Minerals (Regulation and Development) Act, 1957, the Mineral Concession Rules, 1960, and Article 299 was executed. On the facts, the assessee operated as a licensee rather than a lessee, and the payment, though described as special lease money, was for concessions and privileges to extract mineral stock-in-trade. As it did not secure any enduring asset or advantage, the amount was allowable as business expenditure. Case-Laws Income Tax Fri, 29 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67559