https://www.taxtmi.com/caselaws?id=123054 The Tribunal upheld that the cost of acquisition of development rights was a revenue expenditure, not a cost of acquiring a capital asset. The Tribunal emphasized the link between the development rights and the stock-in-trade, which were extinguished upon sale, distinguishing them from traditional intangible assets eligible for depreciation. The commercial rights acquired were not fixed assets capable of further exploitation after the sale of built-up space. The expenditure was considered a revenue expenditure due to its connection to business operations and ultimate extinguishment upon sale. en-us Fri, 23 Apr 2010 00:00:00 +0530 Tue, 11 Jun 2013 13:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123054 The Tribunal upheld that the cost of acquisition of development rights was a revenue expenditure, not a cost of acquiring a capital asset. The Tribunal emphasized the link between the development rights and the stock-in-trade, which were extinguished upon sale, distinguishing them from traditional intangible assets eligible for depreciation. The commercial rights acquired were not fixed assets capable of further exploitation after the sale of built-up space. The expenditure was considered a revenue expenditure due to its connection to business operations and ultimate extinguishment upon sale. Case-Laws Income Tax Fri, 23 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123054