https://www.taxtmi.com/caselaws?id=448573 A subsidy issue was treated as governed by an earlier decision between the same parties and was held taxable as revenue income in favour of the Revenue. Compensation paid to landowners for surface damage caused by mining operations was held to be revenue expenditure, because it arose incidentally in carrying on the mining business and did not confer any interest in the land. The sale proceeds of depreciable assets were held to reduce the written down value of the block under the statutory formula, and depreciation was then allowable only on that reduced value. The result was partial relief for the Revenue, with the assessee succeeding on the expenditure and depreciation issues. en-us Tue, 16 Jan 2024 00:00:00 +0530 Sat, 20 Jan 2024 10:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448573 A subsidy issue was treated as governed by an earlier decision between the same parties and was held taxable as revenue income in favour of the Revenue. Compensation paid to landowners for surface damage caused by mining operations was held to be revenue expenditure, because it arose incidentally in carrying on the mining business and did not confer any interest in the land. The sale proceeds of depreciable assets were held to reduce the written down value of the block under the statutory formula, and depreciation was then allowable only on that reduced value. The result was partial relief for the Revenue, with the assessee succeeding on the expenditure and depreciation issues. Case-Laws Income Tax Tue, 16 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448573