https://www.taxtmi.com/caselaws?id=328545 The Revenue's appeal against the treatment of payment towards Compensatory Lease Cancellation as revenue expenditure was successful. The Tribunal determined that the expenditure should be classified as capital expenditure rather than revenue expenditure. It was held that the cancellation of the lease and the payments made resulted in enduring benefits and the acquisition of a capital asset by the assessee. As a result, the Revenue's appeal was allowed, directing the Assessing Officer to grant depreciation on the treated capital expenditure. en-us Thu, 12 May 2016 00:00:00 +0530 Tue, 07 Jun 2016 11:21:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328545 The Revenue's appeal against the treatment of payment towards Compensatory Lease Cancellation as revenue expenditure was successful. The Tribunal determined that the expenditure should be classified as capital expenditure rather than revenue expenditure. It was held that the cancellation of the lease and the payments made resulted in enduring benefits and the acquisition of a capital asset by the assessee. As a result, the Revenue's appeal was allowed, directing the Assessing Officer to grant depreciation on the treated capital expenditure. Case-Laws Income Tax Thu, 12 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328545