https://www.taxtmi.com/caselaws?id=414311 Compensation received for delay and configuration changes in an aerospace project was treated as capital in nature because it was linked to project outlay and reduced project cost; the related pre-commercial expenditure was therefore required to be capitalised. Routine repairs to leased premises, including maintenance, painting and plumbing, were allowed as current repairs because they did not create an enduring capital advantage. Commission paid to agents was deductible where supported by agreements, banking records, tax deduction at source and business purpose. Interest under section 234C was held not leviable on assessed income, as the charge applies with reference to returned income. en-us Wed, 27 Oct 2021 00:00:00 +0530 Tue, 02 Nov 2021 17:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414311 Compensation received for delay and configuration changes in an aerospace project was treated as capital in nature because it was linked to project outlay and reduced project cost; the related pre-commercial expenditure was therefore required to be capitalised. Routine repairs to leased premises, including maintenance, painting and plumbing, were allowed as current repairs because they did not create an enduring capital advantage. Commission paid to agents was deductible where supported by agreements, banking records, tax deduction at source and business purpose. Interest under section 234C was held not leviable on assessed income, as the charge applies with reference to returned income. Case-Laws Income Tax Wed, 27 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414311