Sponsored
    Follow Us:

Case Law Details

Case Name : De Beers India Prospecting Pvt. Ltd. Vs. Income Tax Officer (ITAT Mumbai)
Related Assessment Year : 2001- 02 to 2003- 04
Become a Premium member to Download. If you are already a Premium member, Login here to access.
Sponsored

De Beers India Prospecting Pvt. Ltd. Vs. Income Tax Officer (ITAT Mumbai)- it was held that prospecting and examining are important activities to undertake mining. Accordingly, it can be concluded that the taxpayer had commenced its business from the time it started the prospecting activity and therefore, non-prospecting related expenditure is deductible under Section 37 of the Income-tax Act, 1961 (the Act) even though it was incurred prior to commencement of mining.

INCOME

Please become a Premium member. If you are already a Premium member, login here to access the full content.

Sponsored

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Ads Free tax News and Updates
Sponsored
Search Post by Date
March 2025
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930
31