Mining development expenses

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deepika dhakad (Querist)
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28 February 2012 Mining development exp as a deferred revenue exp. - Whether this type of exp. can be write off in one year?

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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08 April 2012 As far as I know mining cannot do development the mining it is natures creation but surely you can extract from mining. What do you want is capitalisation of overburden removed from the mines for taking out the minerals. In fact it is a revenue expenses. If before extraction of anything you are putting some machinery and it's installation then yes it can be capitalised.

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