Enterprising Enterprises vs Dy. Cit

The Supreme Court held that the nature of lease rent paid by a mining lessee for extracting minerals determines whether it is a capital or revenue expenditure. The Court distinguished between payments made as royalty or rent, which are considered revenue expenditures, and those where the entire lease amount is paid upfront or in installments, which are deemed capital expenditures. The Court upheld the High Court's dismissal of the appellant's appeal, affirming the Tribunal's order.