https://www.taxtmi.com/caselaws?id=411026 The Tribunal dismissed the Revenue's appeals, affirming that the expenditure on constructing a building on leasehold land is revenue in nature. The Tribunal emphasized the business advantage and savings in rent, following precedents that such expenditure is for business purposes and not a tax avoidance scheme or creation of a capital asset. The validity of the contract was upheld, focusing on the nature of the expenditure rather than technical lease period issues. en-us Mon, 09 Aug 2021 00:00:00 +0530 Thu, 30 Dec 2021 15:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411026 The Tribunal dismissed the Revenue's appeals, affirming that the expenditure on constructing a building on leasehold land is revenue in nature. The Tribunal emphasized the business advantage and savings in rent, following precedents that such expenditure is for business purposes and not a tax avoidance scheme or creation of a capital asset. The validity of the contract was upheld, focusing on the nature of the expenditure rather than technical lease period issues. Case-Laws Income Tax Mon, 09 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411026