Deduction of the amount retained by the monitoring committee out of sale proceeds

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Last updated: 24 December 2021
Quick Summary
This Income Tax Appellate Tribunal case concerns deductions made by a monitoring committee from the sale proceeds of mining operations. These deductions, stemming from a Supreme Court order addressing illegal mining in Karnataka, were intended for environmental and ecological amelioration, as well as organising the mining industry. The Tribunal ruled that these amounts were compensatory in nature, not penal, aligning with previous High Court and Tribunal decisions.

Court :
ITAT Bangalore

Brief :
The assessee has filed this appeal challenging the order dated 25.10.2018 passed by Ld. CIT(A), Gulbarga and it relates to assessment year 2014-15.

Citation :
ITA No.3411/Bang/2018

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1999
(Excl. of GST ₹359)

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3499
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Poojitha Raam Vinay

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I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

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