https://www.taxtmi.com/caselaws?id=243366 The Tribunal upheld the Commissioner of Income-tax (Appeals)-V, Kolkata's decision to delete the disallowance of expenses of Net Present Value (NPV) paid by the assessee to the Forest Department for utilizing forest land for non-forest purposes. The Tribunal ruled that the NPV payments were allowable as business expenditures under section 37(1) of the Income Tax Act, 1961, as they were necessary to continue existing mining operations and did not result in acquiring a capital asset. The Tribunal's decision was pronounced on 27/01/2014. en-us Mon, 27 Jan 2014 00:00:00 +0530 Fri, 31 Jan 2014 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243366 The Tribunal upheld the Commissioner of Income-tax (Appeals)-V, Kolkata's decision to delete the disallowance of expenses of Net Present Value (NPV) paid by the assessee to the Forest Department for utilizing forest land for non-forest purposes. The Tribunal ruled that the NPV payments were allowable as business expenditures under section 37(1) of the Income Tax Act, 1961, as they were necessary to continue existing mining operations and did not result in acquiring a capital asset. The Tribunal's decision was pronounced on 27/01/2014. Case-Laws Income Tax Mon, 27 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243366