Supreme Court · 1999 INSC 380 · Decided 7 September 1999
M/S. Aditya Minerals PVT. LTD. v. Commissioner of Income Tax, Andhra Pradesh
- Court
- Supreme Court of India
- Citation
- 1999 INSC 380 · [1999] SUPP. 2 S.C.R. 233
- Case number
- CIVIL APPEAL No. 4858/1989
- Decided
- 7 September 1999
- Bench
- S.P. BHARUCHA, B.N. KIRPAL, V.N. KHARE, S.S.M. QUADRI, D.P. MOHAPATRA (5-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Constitution; Income Tax Act
Headnote
Income Tax Act, 1961 A B Revenue-Expenditure-Assessee obtaining mining lease for 15 years- C Amount equal to rent of lease for fall period deposited with lessor as guarantee and it was adjustable against rent of every month-Held, the claim of assessee that the rent amount was negatived by Revenue authorities. The appellant-assessee was granted lease of certain land for excavation D purposes at a monthly rent of Rs. 35 per acre. It was stipulated that the lessee would deposit with the lessor by way of guarantee for due performance of the lease deed for fifteen
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