https://www.taxtmi.com/caselaws?id=27806 The High Court determined that the payment of Rs. 62,500 made by the assessee for acquiring a lease on a plot of land was capital expenditure, not revenue expenditure. The Court emphasized that the payment was for acquiring a capital asset, considering the enduring nature of the asset acquired through the lease. The Court disagreed with the Income-tax Appellate Tribunal's view and ruled in favor of the Revenue, directing the assessee to pay the costs of the reference to the Commissioner. en-us Thu, 01 Sep 1983 00:00:00 +0530 Tue, 16 Feb 2010 11:49:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27806 The High Court determined that the payment of Rs. 62,500 made by the assessee for acquiring a lease on a plot of land was capital expenditure, not revenue expenditure. The Court emphasized that the payment was for acquiring a capital asset, considering the enduring nature of the asset acquired through the lease. The Court disagreed with the Income-tax Appellate Tribunal's view and ruled in favor of the Revenue, directing the assessee to pay the costs of the reference to the Commissioner. Case-Laws Income Tax Thu, 01 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27806