https://www.taxtmi.com/caselaws?id=49288 Annual mining payments described as royalty and dead-rent were held to be revenue expenditure where they were payable yearly and linked to the quantity and value of limestone extracted. The SC distinguished lump-sum payments made to acquire an enduring leasehold advantage, noting that an enduring benefit does not by itself make the expenditure capital in nature. As no part of the payment was shown to be premium for acquiring the asset, the royalty and dead-rent were allowable deductions in computing business profits. en-us Mon, 15 Nov 1965 00:00:00 +0530 Fri, 27 Feb 2015 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49288 Annual mining payments described as royalty and dead-rent were held to be revenue expenditure where they were payable yearly and linked to the quantity and value of limestone extracted. The SC distinguished lump-sum payments made to acquire an enduring leasehold advantage, noting that an enduring benefit does not by itself make the expenditure capital in nature. As no part of the payment was shown to be premium for acquiring the asset, the royalty and dead-rent were allowable deductions in computing business profits. Case-Laws Income Tax Mon, 15 Nov 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49288