1997 (7) TMI 16 - SCH - Income Tax

In this case the expenditure relates to the acquisition of a leasehold right for setting up of a sugar factory. The expenditure is clearly of a capital nature. The appeal of assessee is dismissed

Summary

The Supreme Court dismissed Civil Appeal No. 123 of 1989, which involved expenditure for acquiring a leasehold right for a sugar factory, stating the expenditure is of a capital nature. Civil Appeal No. 20 of 1985 was also dismissed in view of the first appeal. No costs were awarded in both cases.