https://www.taxtmi.com/caselaws?id=8665 Payment made for assignment of a leasehold right needed to run a cinema business was capital expenditure, because its object and effect were to acquire the very foundation of the business and secure an enduring business advantage. The fact that the consideration was payable in instalments, or that the lease had only a limited unexpired term, did not change its capital character. On that basis, the amount was not deductible as business expenditure under section 10(2)(xv) of the Income-tax Act, 1922. en-us Fri, 14 Apr 1972 00:00:00 +0530 Wed, 20 May 2009 17:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8665 Payment made for assignment of a leasehold right needed to run a cinema business was capital expenditure, because its object and effect were to acquire the very foundation of the business and secure an enduring business advantage. The fact that the consideration was payable in instalments, or that the lease had only a limited unexpired term, did not change its capital character. On that basis, the amount was not deductible as business expenditure under section 10(2)(xv) of the Income-tax Act, 1922. Case-Laws Income Tax Fri, 14 Apr 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8665