https://www.taxtmi.com/caselaws?id=28697 Payment made to a rival claimant to withdraw litigation and clear the way for a long-term mining lease was capital expenditure because its object was acquisition of a capital asset, not business operations, so the deduction was disallowed. The loss from destruction of a partly constructed approach bridge was treated as capital loss arising from a capital asset, not as business loss; in the absence of a transfer for consideration, short-term capital loss and terminal-loss treatment also failed. Expenditure incurred to secure electrical power could not be deducted again in later years once it had already been allowed in an earlier assessment, so the duplicated claim was rejected. en-us Tue, 10 Aug 1982 00:00:00 +0530 Wed, 24 Feb 2010 18:46:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28697 Payment made to a rival claimant to withdraw litigation and clear the way for a long-term mining lease was capital expenditure because its object was acquisition of a capital asset, not business operations, so the deduction was disallowed. The loss from destruction of a partly constructed approach bridge was treated as capital loss arising from a capital asset, not as business loss; in the absence of a transfer for consideration, short-term capital loss and terminal-loss treatment also failed. Expenditure incurred to secure electrical power could not be deducted again in later years once it had already been allowed in an earlier assessment, so the duplicated claim was rejected. Case-Laws Income Tax Tue, 10 Aug 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28697