https://www.taxtmi.com/caselaws?id=375281 The High Court upheld the Tribunal's decision to delete the addition of Rs. 1,68,94,820 as revenue expenditure for 'net present Value' (NPA), stating it was essential for the mining operation. Additionally, the Court upheld the deletion of the disallowance of deduction of Rs. 1,34,08,905 for a project later abandoned, following a precedent set in a previous case. The Court dismissed the Revenue's appeal, affirming the Tribunal's decisions on both issues, emphasizing the necessity of the payments for the mining operation and consistency with the Essar Oil Ltd. case. en-us Mon, 04 Feb 2019 00:00:00 +0530 Sat, 16 Feb 2019 06:31:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375281 The High Court upheld the Tribunal's decision to delete the addition of Rs. 1,68,94,820 as revenue expenditure for 'net present Value' (NPA), stating it was essential for the mining operation. Additionally, the Court upheld the deletion of the disallowance of deduction of Rs. 1,34,08,905 for a project later abandoned, following a precedent set in a previous case. The Court dismissed the Revenue's appeal, affirming the Tribunal's decisions on both issues, emphasizing the necessity of the payments for the mining operation and consistency with the Essar Oil Ltd. case. Case-Laws Income Tax Mon, 04 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375281