https://www.taxtmi.com/caselaws?id=200659 The High Court ruled in favor of the assessee, determining that the investments made by the lessees in constructing the floors should be considered capital receipts, not rental income. The Court agreed with the Tribunal's decision that the expenses incurred were capital in nature and not taxable as rent. The construction was done on behalf of the assessee, without any element of advance rent, leading to the conclusion that the investments did not resemble rent. The Court upheld the Tribunal's finding, emphasizing that the expenses were not to be treated as rental income. en-us Thu, 30 Aug 1990 00:00:00 +0530 Wed, 11 Apr 2018 14:49:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200659 The High Court ruled in favor of the assessee, determining that the investments made by the lessees in constructing the floors should be considered capital receipts, not rental income. The Court agreed with the Tribunal's decision that the expenses incurred were capital in nature and not taxable as rent. The construction was done on behalf of the assessee, without any element of advance rent, leading to the conclusion that the investments did not resemble rent. The Court upheld the Tribunal's finding, emphasizing that the expenses were not to be treated as rental income. Case-Laws Income Tax Thu, 30 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200659