https://www.taxtmi.com/caselaws?id=390467 The Tribunal overturned the Commissioner's decision, allowing the appellant's appeal regarding the disallowance of leasehold rent as capital expenditure. The Tribunal held that the annual lease rent, constituting a percentage of the total consideration, should be treated as revenue expenditure, bringing business benefits without creating a capital asset for the appellant. Emphasizing the enduring business advantage derived from the expense, the Tribunal concluded that the one-time payment of annual rent under the lease deed was correctly claimed as revenue expenditure, ultimately setting aside the Commissioner's order. en-us Fri, 13 Dec 2019 00:00:00 +0530 Fri, 03 Jan 2020 12:57:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390467 The Tribunal overturned the Commissioner's decision, allowing the appellant's appeal regarding the disallowance of leasehold rent as capital expenditure. The Tribunal held that the annual lease rent, constituting a percentage of the total consideration, should be treated as revenue expenditure, bringing business benefits without creating a capital asset for the appellant. Emphasizing the enduring business advantage derived from the expense, the Tribunal concluded that the one-time payment of annual rent under the lease deed was correctly claimed as revenue expenditure, ultimately setting aside the Commissioner's order. Case-Laws Income Tax Fri, 13 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390467