2019 (6) TMI 305

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....espondent(s) : None JUDGMENT 1. At the outset the Counsel for the appellant submitted that out of the four questions, three questions are covered against the appellant-Revenue. The first is with respect to the admissibility of the deduction expenditure towards contribution to the State Renewal Fund stands covered by the judgment of this Court in the case of Principal Commissioner of Income T....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....In D.B.Income Tax Appeal No.146/2016- Rajasthan State Mines & Minerral Ltd. Vs. Assistant Commissioner of Income Tax decided on 13.12.2017. 4. On the 4th question i.e. with respect to allowing depreciation or amortization of mining land and lease hold land, the assessee had not claimed in its return. This was the ground of rejection, the CIT (A) confirmed the AO's order. It is urged on the stre....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ction 32. (1) In respect of depreciation of- (ii) knowhow, patents, copyrights, trade marks, licences, franchises or any other business or commercial rights of similar nature, being intangible assets acquired on or after the 1st day of April, 1998, 13.1. In our considered opinion, the rights which are given to the assessee are of commercial rights which are akin to license for mining. 13.....