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PCIT v. Rungta Mines Ltd 2018) 96 Taxmann.com 166 (Cal)(HC),www.itatonlin.org

S. 37(1):Business expenditure-Capital or revenue- payment of a one-time fee to continue the business of mining constitutes revenue expenditure.

Dismissing the appeal of the revenue the Court held payment of a one-time fee to continue the business of mining constitutes  revenue expenditure explained with reference to R.B.Seth Moolchand Sugachand v CIT (1972)  86 ITR 647 (SC) and Bikaner Gypsums  Ltd  v. CIT (1991) 187 ITR 39 (SC)(GA 2977 of 2015 In ITAT 133 of 2015, dt. 21.06.2018)

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