Supreme Court · 1971 INSC 180 · Decided 5 August 1971
Chintamani Saran Nathsahdeo v. C.I.T. Bihar & Orissa
- Court
- Supreme Court of India
- Citation
- 1971 INSC 180 · [1972] 1 S.C.R. 36
- Case number
- CIVIL APPEAL No. 1732/1967
- Decided
- 5 August 1971
- Bench
- K.S. HEGDE, A.N. GROVER (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 66(1)
Headnote
}ik.'OIIle-tax- Prelllit/111 fo r mining Jease- fl' r £'1'£'111/e vr capital receipt­ :Priw:iples for determining. The assessee had granted a prospecting, lease of his land to a com. pany in 1941 for a period of one y_ear. In 1944 he granted ~~ h.:asc or mining rights to the same by way of pre. mium bul charg;ed a sl1ghtly lesser amouru than what he had charged ·in the prospect1ng lease, by way of royalty. The assessee had also HTantcd other leases and the premium per acre in the case of those leases ~as very much less than the premium per acre in the 1944-lease. On
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