Supreme Court · 1972 INSC 232 · Decided 19 September 1972
R. B. Seth Moolchand Suganchand v. The Commissioner of Income-Tax, Delhi
- Court
- Supreme Court of India
- Citation
- 1972 INSC 232 · [1973] 2 S.C.R. 360
- Case number
- CIVIL APPEAL No. 2020/1972
- Decided
- 19 September 1972
- Bench
- P. JAGANMOHAN REDDY, HANS RAJ KHANNA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 10(2)(xv)
Headnote
MOOLCHAND SUGANCHAND v. THE COMMISSIONER OF INCOME-TAX, DELHI September 19, 1972 [P. JAGANMOHAN REDDY AND H. R. KHANNA, JJ.) Income tax Act (11 of 1922) s. 10 (2) (xv)-Amount paid for lease of mica mine already worked and /et for prospecting licence-Capital or .J~eve1u1e expenditure-TestJ. The earlier minln• operations. Mica scrap was also lying on the surface. The assessee paid a sum of money, part di which was towards the- mica s~rap lying on the surface. The assessee also paid at Re. 1/- per acre per year as fee for prospecting Jicence. The assessee claimed the I/20th part of
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