https://www.taxtmi.com/caselaws?id=401721 The Tribunal directed the Assessing Officer to treat part of the lease rent fee for surrendering the right to purchase khair wood at 15% of the average purchase price, allow normal escalation on fixed rent at 10% per year, attribute rent for modernization and improvement of plant and machinery at 18%, and allow depreciation on the portion of the rent held as capital expenditure from 1st April 1998. The appeal of the assessee was allowed for statistical purposes, and the Assessing Officer was instructed to rework the disallowable expenditure following the Tribunal's directions. en-us Tue, 11 Aug 2020 00:00:00 +0530 Tue, 15 Dec 2020 14:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401721 The Tribunal directed the Assessing Officer to treat part of the lease rent fee for surrendering the right to purchase khair wood at 15% of the average purchase price, allow normal escalation on fixed rent at 10% per year, attribute rent for modernization and improvement of plant and machinery at 18%, and allow depreciation on the portion of the rent held as capital expenditure from 1st April 1998. The appeal of the assessee was allowed for statistical purposes, and the Assessing Officer was instructed to rework the disallowable expenditure following the Tribunal's directions. Case-Laws Income Tax Tue, 11 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401721