Lease Registration Costs Deductible u/s 37(1) for Assessee, Not JV Partners, in Income Tax Case.

Lease Registration Costs Deductible u/s 37(1) for Assessee, Not JV Partners, in Income Tax Case. https://www.taxtmi.com/highlights?id=56158 Disallowance of Lease Deed Registration Charges - registration charge for a leased property - Merely because Joint venture partners decides about who puts in money in J V for what purposes, it is merely that they are deciding about the sources of the funds, expenditure of J V may be financed out of that , but that does not make it the liabilities of J V partners, Instead of J V Itself. Therefore, in view of this we hold that the expenditure is incurred by the assessee for registration of lease deed. - Deduction of expenditure allowed u/s 37(1) - AT en-us Fri, 01 Jan 2021 10:35:37 +0530 Fri, 01 Jan 2021 10:35:37 +0530 TaxTMI RSS Generator Lease Registration Costs Deductible u/s 37(1) for Assessee, Not JV Partners, in Income Tax Case. https://www.taxtmi.com/highlights?id=56158 Disallowance of Lease Deed Registration Charges - registration charge for a leased property - Merely because Joint venture partners decides about who puts in money in J V for what purposes, it is merely that they are deciding about the sources of the funds, expenditure of J V may be financed out of that , but that does not make it the liabilities of J V partners, Instead of J V Itself. Therefore, in view of this we hold that the expenditure is incurred by the assessee for registration of lease deed. - Deduction of expenditure allowed u/s 37(1) - AT Highlights Income Tax Fri, 01 Jan 2021 10:35:37 +0530 https://www.taxtmi.com/highlights?id=56158