Supreme Court · 1961 INSC 319 · Decided 23 November 1961
The Commissioner of Income-Tax, Madras v. K.T.M.T.M Abdul Kayoom
- Court
- Supreme Court of India
- Citation
- 1961 INSC 319 · [1962] SUPP. 1 S.C.R. 518
- Case number
- REVIEW PETITION (CIVIL) No. 16/1960
- Decided
- 23 November 1961
- Bench
- S.K. DAS, J.L. KAPUR, M. HIDAYATULLAH (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
-51s SUPREl\IB COURT REPORTS [l!JG2] SUPP. THE CO:.\HIISSIONER OF INCOi\IE-TAX, MADRAS v. IC T .. .ilI. T. l\I. ABDUL KAYOOi\I (S. K: DAs, J. L. KAPUR and l\I. HrnAYATULLAII, JJ.) , - -- · - Income Tax~Capital Expenditure-Dealer in conch •hells-Lease money paicifor for 3 years for gathering specified types of shells from the sea along the coastline abutting on the South Arcot District. It sought to deduct the amount paid as lease money- from its profits from business on the ground that this \vas an expenditure not of a capital nature -but wholly and
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