https://www.taxtmi.com/caselaws?id=246049 The court held that the lump sum payment of Rs.20,00,000/- by the assessee for lease rentals to Maharashtra Industrial Development Corporation constituted a capital expenditure, not a revenue expenditure. The court emphasized that the transaction involved the absolute transfer of rights in perpetuity, leading to the classification as a capital expenditure. The Revenue's appeal was allowed, overturning the Tribunal's decision in favor of the assessee. en-us Mon, 07 Apr 2014 00:00:00 +0530 Wed, 20 Aug 2014 17:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246049 The court held that the lump sum payment of Rs.20,00,000/- by the assessee for lease rentals to Maharashtra Industrial Development Corporation constituted a capital expenditure, not a revenue expenditure. The court emphasized that the transaction involved the absolute transfer of rights in perpetuity, leading to the classification as a capital expenditure. The Revenue's appeal was allowed, overturning the Tribunal's decision in favor of the assessee. Case-Laws Income Tax Mon, 07 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246049