Taxpayer's Annual Rent Payment Rightly Treated as Revenue Expenditure, Not Capital, Says Court.

Taxpayer's Annual Rent Payment Rightly Treated as Revenue Expenditure, Not Capital, Says Court. https://www.taxtmi.com/highlights?id=51030 Nature of expenditure towards Lease hold rent - The onetime payment of the annual rent as per the lease deed is rightly claimed by the assessee as revenue expenditure. AO was not right in holding that the payment during the year relates to land which is capital in nature. en-us Fri, 03 Jan 2020 12:57:10 +0530 Fri, 03 Jan 2020 12:57:10 +0530 TaxTMI RSS Generator Taxpayer's Annual Rent Payment Rightly Treated as Revenue Expenditure, Not Capital, Says Court. https://www.taxtmi.com/highlights?id=51030 Nature of expenditure towards Lease hold rent - The onetime payment of the annual rent as per the lease deed is rightly claimed by the assessee as revenue expenditure. AO was not right in holding that the payment during the year relates to land which is capital in nature. Highlights Income Tax Fri, 03 Jan 2020 12:57:10 +0530 https://www.taxtmi.com/highlights?id=51030