https://www.taxtmi.com/caselaws?id=99027 In appeals under section 202 of the Companies Act, 1913, the appellate procedure for ordinary civil appeals applies, so a respondent may maintain a cross-objection under Order XLI, Rule 22 of the Code of Civil Procedure. In assessing the receiver's accounts, the court applied the settled capital-revenue test by asking whether expenditure created or improved an enduring asset or merely met operating needs. Operational items connected with the mine were treated as revenue expenditure, while the new incline and pit were capital in nature only to the extent properly sanctioned and proved. Amounts already recovered, unsupported claims, and unproved credits or debits were disallowed; interest was left undisturbed as a matter of discretion. en-us Tue, 05 Sep 1972 00:00:00 +0530 Tue, 24 Jan 2012 18:36:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99027 In appeals under section 202 of the Companies Act, 1913, the appellate procedure for ordinary civil appeals applies, so a respondent may maintain a cross-objection under Order XLI, Rule 22 of the Code of Civil Procedure. In assessing the receiver's accounts, the court applied the settled capital-revenue test by asking whether expenditure created or improved an enduring asset or merely met operating needs. Operational items connected with the mine were treated as revenue expenditure, while the new incline and pit were capital in nature only to the extent properly sanctioned and proved. Amounts already recovered, unsupported claims, and unproved credits or debits were disallowed; interest was left undisturbed as a matter of discretion. Case-Laws Companies Law Tue, 05 Sep 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99027