https://www.taxtmi.com/caselaws?id=383802 The High Court of Calcutta addressed the disallowance of advance rent payment amortized each year by the client-assessee, following a Tribunal's decision based on a Special Bench judgment. The Court emphasized the importance of contractual terms in determining the nature of payments, distinguishing between advance rent and non-refundable premiums for leasehold rights. It directed further arguments on potential restoration to the Tribunal for factual determination, highlighting the significance of factual findings in tax assessments based on specific contractual provisions. The case was scheduled for further hearing on 1st August, 2019. en-us Thu, 18 Jul 2019 00:00:00 +0530 Wed, 31 Jul 2019 04:34:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383802 The High Court of Calcutta addressed the disallowance of advance rent payment amortized each year by the client-assessee, following a Tribunal's decision based on a Special Bench judgment. The Court emphasized the importance of contractual terms in determining the nature of payments, distinguishing between advance rent and non-refundable premiums for leasehold rights. It directed further arguments on potential restoration to the Tribunal for factual determination, highlighting the significance of factual findings in tax assessments based on specific contractual provisions. The case was scheduled for further hearing on 1st August, 2019. Case-Laws Income Tax Thu, 18 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383802