1990 (10) TMI 2 - SUPREME COURT

Mining Lease - Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the payment of Rs. 3 lakhs to the Northern Railway was a revenue expenditure and was a deduction allowable under the Income-tax Act, 1961 - High Court, in our opinion, failed to appreciate the true nature of the expenditure - High Court committed an error in interfering with the findings recorded by the Income-tax Appellate Tribunal