https://www.taxtmi.com/highlights?id=58711 Deduction of lease rent - lumpsum amount paid by the appellant/assessee for the entire tenure of the lease i.e. 99 years - matching principle - Given the facts obtaining in this case, the matching principle would have no applicability. The appellant/assessee chose to incur the liability of a crystallised amount in the period relevant to the AY in issue i.e. AY 2007-2008, and therefore, it was entitled to seek deduction of the amount which fulfilled the attributes - The expenditure was not in the nature of capital expenditure or a personal expense, It was expended fully and exclusively for the purposes of the business and; It did not fall within the realm of any provision of the Act which prohibited the appellant/assessee from claiming this deduction - HC en-us Fri, 09 Jul 2021 19:33:44 +0530 Fri, 09 Jul 2021 19:33:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=58711 Deduction of lease rent - lumpsum amount paid by the appellant/assessee for the entire tenure of the lease i.e. 99 years - matching principle - Given the facts obtaining in this case, the matching principle would have no applicability. The appellant/assessee chose to incur the liability of a crystallised amount in the period relevant to the AY in issue i.e. AY 2007-2008, and therefore, it was entitled to seek deduction of the amount which fulfilled the attributes - The expenditure was not in the nature of capital expenditure or a personal expense, It was expended fully and exclusively for the purposes of the business and; It did not fall within the realm of any provision of the Act which prohibited the appellant/assessee from claiming this deduction - HC Highlights Income Tax Fri, 09 Jul 2021 19:33:44 +0530 https://www.taxtmi.com/highlights?id=58711