Supreme Court of India
M/s. Aditya Minerals Pvt. Ltd. v. Commissioner of Income Tax, Andhra Pradesh
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From the headnote
Income Tax Act, 1961 Revenue-Expenditure-Assessee obtaining mining lease for 15 years- 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 revenue expenditure was rightly negatived by Revenue authorities. The appellant-assessee was granted lease of certain land for excavation 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 years,
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