https://www.taxtmi.com/caselaws?id=351320 The Tribunal allowed the appeal partly, determining that the compensation of Rs. 35,00,000 paid to the landowner for mining land was an allowable revenue expenditure under section 37(1) of the Income-tax Act, 1961. The Tribunal held that the payment aimed at removing obstructions for mining operations and did not result in acquiring capital assets. Therefore, the deduction was permissible under section 37(1). The other issues regarding depreciation on intangible assets and disallowance of revenue expenditure were not upheld. en-us Fri, 01 Sep 2017 00:00:00 +0530 Thu, 23 Nov 2017 13:32:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351320 The Tribunal allowed the appeal partly, determining that the compensation of Rs. 35,00,000 paid to the landowner for mining land was an allowable revenue expenditure under section 37(1) of the Income-tax Act, 1961. The Tribunal held that the payment aimed at removing obstructions for mining operations and did not result in acquiring capital assets. Therefore, the deduction was permissible under section 37(1). The other issues regarding depreciation on intangible assets and disallowance of revenue expenditure were not upheld. Case-Laws Income Tax Fri, 01 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351320