Supreme Court · 1990 INSC 319 · Decided 23 October 1990
Bikaner Gypsums LTD. v. Commissioner of Income Tax, Rajasthan
- Court
- Supreme Court of India
- Citation
- 1990 INSC 319 · [1990] SUPP. 2 S.C.R. 313
- Case number
- CIVIL APPEAL No. 262/1976
- Decided
- 23 October 1990
- Bench
- K.N. SINGH, K.N. SAIKIA, KULDIP SINGH (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 256
Headnote
B Income Tax Act 1922/Jncome Tax Act 1961-Section 10(2)(xv)/ Section 37( ])-Capital or revenue expenditure-Determination of in the case of mining leases-FacJors to be considered-What are. The appellant-assessee carried on the business of mining gypsum. The predecessor-in-interest of the' assessee State on September 29, 1948 for mining of gypsum for a period of 20 years over an area of 4.27 square miles in the State. The lease was liable to be renewed after the expiry of 20 years. By a deed of assignment dated December 11, 1948 the rights under the lease were assigned to the assessee
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