TMI Blog2024 (9) TMI 869X X X X Extracts X X X X X X X X Extracts X X X X ..... the case of Dr. Prafulla R. Hede and Another [ 2014 (7) TMI 1085 - BOMBAY HIGH COURT] has accepted that contribution to CAF will be revenue expenditure and not capital in nature. Even the Special Leave Petition that was filed by the Revenue against Dr. Prafulla R. Hede as been dismissed[ 2014 (11) TMI 1239 - SC ORDER] . No substantial question of law arises. - K. R. SHRIRAM AND DR. NEELA GOKHAL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y 2011 to Assessee and by an order dated 16th December 2011, set aside the original assessment order on three issues with a direction to the Assessing Officer ( AO ) to pass the assessment order afresh. Only one of the three issues we are concerned with in this appeal and that relates to allowability of Assessee s contribution to the Compensatory Afforestation Fund ( CAF ) amounting to Rs. 212.52 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AT and also in the case of sister concerns of Assessee. Relying upon the order passed by the ITAT in The Commissioner of Income Tax and Another v. M/s. Ramgad Minerals Minings Pvt. Ltd. ITA No. 5021 of 2009 dated 6th January 2012., the ITAT held that the CIT was not justified in invoking the provisions of Section 263 of the Act. It is this order of the ITAT, which is impugned in this appeal and th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... whether the ITAT was right in deciding afforestation expenditure as revenue expenditure wherein the expenditure was in nature of additional lease premium towards mining lease and has to be held as capital expenditure. 7. The only issue considering the facts and circumstances of case and also the proposed substantial questions of law, which arise in this appeal is whether Assessee was entitled to t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|