https://www.taxtmi.com/caselaws?id=5686 SC dismissed the appeals with costs, holding the sums spent on constructing the new premises were revenue, not capital, expenditure. The assessee did not acquire ownership of the asset but obtained a long-term lease at a reduced rent, conferring a business advantage and saving future revenue outlays. Accordingly the payments were deductible in computing income for the relevant assessment year and not to be treated as capital investment eligible for depreciation. en-us Wed, 12 Aug 1998 00:00:00 +0530 Fri, 10 Oct 2025 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5686 SC dismissed the appeals with costs, holding the sums spent on constructing the new premises were revenue, not capital, expenditure. The assessee did not acquire ownership of the asset but obtained a long-term lease at a reduced rent, conferring a business advantage and saving future revenue outlays. Accordingly the payments were deductible in computing income for the relevant assessment year and not to be treated as capital investment eligible for depreciation. Case-Laws Income Tax Wed, 12 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5686