https://www.taxtmi.com/highlights?id=47677 Amortization of lease premium(advance rent) over lease period - once the nature of payment is found to be for the purpose of carrying on business and not to acquire capital asset then such expenditure has to be considered to be in the revenue field and therefore allowable as per the method of accounting followed by the assessee. en-us Thu, 04 Jul 2019 09:24:35 +0530 Thu, 04 Jul 2019 19:55:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=47677 Amortization of lease premium(advance rent) over lease period - once the nature of payment is found to be for the purpose of carrying on business and not to acquire capital asset then such expenditure has to be considered to be in the revenue field and therefore allowable as per the method of accounting followed by the assessee. Highlights Income Tax Thu, 04 Jul 2019 09:24:35 +0530 https://www.taxtmi.com/highlights?id=47677