https://www.taxtmi.com/caselaws?id=303596 Lease premium paid to acquire leasehold rights over land was treated as a capital outlay for a commercial right, and depreciation was held allowable in principle under the intangible asset limb. The reasoning distinguished the payment from mere rent or simple amortisation over the lease term. On the weighted deduction claim under section 35(2AB), relief was not finally denied because the assessee produced subsequent DSIR approval in Form 3CI after the impugned order; the matter was therefore restored for fresh adjudication on the existing record and later approval. en-us Tue, 17 Aug 2021 00:00:00 +0530 Mon, 01 Aug 2022 09:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303596 Lease premium paid to acquire leasehold rights over land was treated as a capital outlay for a commercial right, and depreciation was held allowable in principle under the intangible asset limb. The reasoning distinguished the payment from mere rent or simple amortisation over the lease term. On the weighted deduction claim under section 35(2AB), relief was not finally denied because the assessee produced subsequent DSIR approval in Form 3CI after the impugned order; the matter was therefore restored for fresh adjudication on the existing record and later approval. Case-Laws Income Tax Tue, 17 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303596