https://www.taxtmi.com/caselaws?id=274216 The Tribunal upheld the deduction of full expenditure of Rs. 5 lakhs for debt restructuring, ruling it was wholly and exclusively for business purposes. Additionally, the Tribunal deemed the Rs. 4,16,93,695 expenditure on replacing the core engine of a captive power plant as revenue in nature due to the leasehold property status. Lastly, the Tribunal affirmed the payment of lease rent of Rs. 7.48 crores to the holding company as allowable, emphasizing the lessor's ownership of the assets and consistency in treatment of leased equipment. The Revenue's claim was dismissed in all three issues. en-us Tue, 28 Jan 2014 00:00:00 +0530 Fri, 03 Aug 2018 07:56:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274216 The Tribunal upheld the deduction of full expenditure of Rs. 5 lakhs for debt restructuring, ruling it was wholly and exclusively for business purposes. Additionally, the Tribunal deemed the Rs. 4,16,93,695 expenditure on replacing the core engine of a captive power plant as revenue in nature due to the leasehold property status. Lastly, the Tribunal affirmed the payment of lease rent of Rs. 7.48 crores to the holding company as allowable, emphasizing the lessor's ownership of the assets and consistency in treatment of leased equipment. The Revenue's claim was dismissed in all three issues. Case-Laws Income Tax Tue, 28 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274216