https://www.taxtmi.com/caselaws?id=60681 The Tribunal held that the expenditure incurred by the assessee for acquiring lands and rights for sand extraction constituted capital expenditure. It determined that the acquisitions of lands, leases, and extraction rights were capital assets, denying the assessee's claim for revenue expenditure deductions. The Tribunal allowed the department's appeal, overturning the Appellate Assistant Commissioner's decision and affirming the Income Tax Officer's classification of the expenditure as capital. en-us Thu, 23 Oct 1986 00:00:00 +0530 Fri, 07 Jan 2011 15:54:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60681 The Tribunal held that the expenditure incurred by the assessee for acquiring lands and rights for sand extraction constituted capital expenditure. It determined that the acquisitions of lands, leases, and extraction rights were capital assets, denying the assessee's claim for revenue expenditure deductions. The Tribunal allowed the department's appeal, overturning the Appellate Assistant Commissioner's decision and affirming the Income Tax Officer's classification of the expenditure as capital. Case-Laws Income Tax Thu, 23 Oct 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60681