2006 (12) TMI 138

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....as to whether the proportionate lease rent paid by the mining lessee for acquiring leasehold right for extracting minerals from mineral bearing land would be a capital expenditure or a revenue expenditure. Having heard learned counsel for the parties and having considered the decisions of this court in Pingle Industries Ltd. v. CIT [1960] 40 ITR 67 (SC), Gotan Lime Syndicate v. CIT [1966] 59 IT....