Payments to Government for diversion of forest land for non-forest purposes, amounts to compensation is revenue expense

ITAT BANGALORE BENCH ‘C’ Mysore Minerals Ltd. versus Assistant Commissioner of Income-tax, Circle 12(1), Bangalore IT Appeal Nos. 679, 680 & 733 (Bang.) of 2010 and 350 & 351 (Bang.) of 2011 [ASSESSMENT YEARS 2004-05 TO 2006-07] NOVEMBER 2, 2012 ORDER Jason P. Boaz, Accountant Member These are appeals by the assessee for Assessment Year 2004-05 and cross appeals of both the assessee and revenue for Assessment Years 2005-06 and 2006-07. Since common issues are involved, these appeals are being disposed off by way of common order for the sake of convenience. ...