https://www.taxtmi.com/caselaws?id=23458 The High Court at Calcutta allowed the application for appeal to the Supreme Court under section 261 of the Income-tax Act, 1961, regarding the nature of expenses incurred for prospecting and investigating bauxite mines. The court formulated three substantial questions of law addressing the capital or revenue nature of such expenses, the treatment of expenses at the pre-production stage, and the relevance of expenses for enhancing business advantages and profits. The judges certified it as a fit case for further consideration by the Supreme Court, emphasizing the need for a definitive ruling on the matter. en-us Tue, 09 Aug 1988 00:00:00 +0530 Sat, 19 Dec 2009 13:55:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23458 The High Court at Calcutta allowed the application for appeal to the Supreme Court under section 261 of the Income-tax Act, 1961, regarding the nature of expenses incurred for prospecting and investigating bauxite mines. The court formulated three substantial questions of law addressing the capital or revenue nature of such expenses, the treatment of expenses at the pre-production stage, and the relevance of expenses for enhancing business advantages and profits. The judges certified it as a fit case for further consideration by the Supreme Court, emphasizing the need for a definitive ruling on the matter. Case-Laws Income Tax Tue, 09 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23458