https://www.taxtmi.com/caselaws?id=38977 The court held that the royalty payments made by the assessee were allowable as revenue expenditure. The payments were directly related to the quantity of petroleum extracted and sold, qualifying them as revenue expenditure despite the enduring nature of the asset obtained under the lease. The court's decision aligned with the principles established in the Gotan Lime Syndicate case, determining that the royalty payments were revenue expenditure, not capital expenditure. en-us Thu, 17 Jul 1975 00:00:00 +0530 Sat, 10 Apr 2010 17:11:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38977 The court held that the royalty payments made by the assessee were allowable as revenue expenditure. The payments were directly related to the quantity of petroleum extracted and sold, qualifying them as revenue expenditure despite the enduring nature of the asset obtained under the lease. The court's decision aligned with the principles established in the Gotan Lime Syndicate case, determining that the royalty payments were revenue expenditure, not capital expenditure. Case-Laws Income Tax Thu, 17 Jul 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38977