Supreme Court Allows Assessee's Appeal, Holding Royalty Payment for Mining Lease is Revenue Expenditure. Yearly royalty of Rs. 96,000 under mining arrangement with Government deductible under Income-tax Act as it relates to raw material obtained, not capital outlay.
15 Nov 1965This appeal arose from income tax assessment proceedings for the years 1954-55 to 1956-57. The appellant, a registered firm manufacturing lime from li...




