https://www.taxtmi.com/caselaws?id=290259 Royalty from mining leases was treated as part of the mine's annual net profits for road cess purposes, because the statutory scheme assessed the mine as the unit and allowed later apportionment between owner and occupier. The same royalty was also held to be income under the Income Tax Act, as "income" was read broadly to include periodic receipts from a source and the amount did not fall within the statutory exemptions. A notice objection under section 424 was treated as waivable, since it was not raised at the amendment stage and was taken only after the trial had substantially progressed. en-us Mon, 07 Jan 1907 00:00:00 +0530 Wed, 11 Nov 2020 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290259 Royalty from mining leases was treated as part of the mine's annual net profits for road cess purposes, because the statutory scheme assessed the mine as the unit and allowed later apportionment between owner and occupier. The same royalty was also held to be income under the Income Tax Act, as "income" was read broadly to include periodic receipts from a source and the amount did not fall within the statutory exemptions. A notice objection under section 424 was treated as waivable, since it was not raised at the amendment stage and was taken only after the trial had substantially progressed. Case-Laws Income Tax Mon, 07 Jan 1907 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290259