https://www.taxtmi.com/caselaws?id=186457 A lump-sum tender payment made to obtain a mica mining lease was treated as consideration for acquiring mining rights, not as dead rent for the first year. The lease terms and Rule 41(1)(iii) of the Mineral Concession Rules, 1949 showed that for the first year no dead rent was payable, while royalty was separately chargeable and dead rent and royalty were alternatives, not cumulative. The amount therefore could not be split up and attributed in part to first-year dead rent. The issue was answered in the negative, against the assessee and in favour of the Revenue. en-us Tue, 28 Jan 1964 00:00:00 +0530 Mon, 19 Sep 2016 16:58:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186457 A lump-sum tender payment made to obtain a mica mining lease was treated as consideration for acquiring mining rights, not as dead rent for the first year. The lease terms and Rule 41(1)(iii) of the Mineral Concession Rules, 1949 showed that for the first year no dead rent was payable, while royalty was separately chargeable and dead rent and royalty were alternatives, not cumulative. The amount therefore could not be split up and attributed in part to first-year dead rent. The issue was answered in the negative, against the assessee and in favour of the Revenue. Case-Laws Income Tax Tue, 28 Jan 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186457