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TMI Blog2023 (4) TMI 468X X X X Extracts X X X X X X X X Extracts X X X X ..... r reasoning by the CIT(A). The term capital expenditures are typically one-time large purchases of fixed assets that will be used for revenue generation over a longer period or expenditure incurred for enduring benefit to the assessee. Whereas Revenue expenditures are typically referred to as ongoing operating expenses, which are short-term expenses that are used in running the daily business operations. Thus, based on these basic difference of expenditure and on careful examination of the challans placed on record we are of the considered view that the expenditure incurred by the assessee are not in nature of any enduring benefit to the assessee but in fact days to day routine expenditure in the nature of revenue expenditure - we vacate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the IT. Act, 1961 were initiated after recording reasons by the AO. Notice u/s 148 of the Act was issued on 27.02.2017 and duly served. The reassessment u/s 143(3)/147 was completed on 29.12.2017 at an assessed income of Rs. 1,09,500/- against returned loss of Rs. 5,64,503/-. While completing the assessment the ld. AO made an addition of Rs. 6,74,000/- being the amount paid to mining department, while doing so ld. AO stated that as the assessee has not earned any income against this payment and thus, the said some was treated as capital expenditure. 4. Being aggrieved, the assessee carried the matter in appeal before the ld CIT(A) for the addition made by the ld. AO. The relevant findings is recorded by the ld. CIT(A) in para 6 of his ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... filed before us challenging the finding of the lower authorities, as per the grounds raised by the assessee at para 2 above. In support of the grounds so raised the ld. AR of the assessee submitted an application praying to admit the additional evidence. The prayer of the assessee is reiterated here in below: The present appeal is filed against the appeal order passed u/s 250 of the Income Tax Act, 1961 (the Act) dated 29.09.2022. In the grounds of appeal, three grounds of appeal were raised, of which ground No.1 2 are against the specific addition made and ground no. 3 is general in nature. In ground no. 1 2 of the appeal, the appellant has challenged the addition of Rs.6,74,000/- in respect of disallowance of loss by treating i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be allowed to be filed even at appellate stage - Held, yes. Hon'ble Delhi High Court in the case of Chandra Kant Chanubhai Patel v. CIT [2011] (13 taxmann.com 131) held that where fresh evidence produced by appellant was without any blemish, then in order to advance cause of justice, evidence was to be admitted. Thus, in view of the above, we request your Honour to kindly admit the additional evidence produced by the appellant as it is well within the jurisdiction of your Honour. We may further submit that this additional evidence goes to the root of the matter and is necessary to examine the issue. Thus, it is requested to admit the same in the interest of natural justice. Since, the agreement is in addition to the chal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Particular Page No. 1 Copy of royalty collection agreement entered into between assessee and department of Mines and Geology, Rajasthan 01-05 2 Copy of Ledger account Royalty Installment, Balia 06 3 Copy of acknowledgement receipts of installment on various dates 07-11 4 Copy of bank statement showing payment of installment on various dates 12-13 5 Copy of cash book showing payment of installment on various dates. 14-15 6. The ld DR is h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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