https://www.taxtmi.com/caselaws?id=35090 The High Court determined that the payment to Bangalore Cancer Research Foundation by the assessee was for lease rentals and not for the purchase of equipment, classifying it as revenue expenditure rather than capital expenditure. The Court emphasized that the payment was a deposit to be adjusted against rentals and did not indicate asset acquisition. Consequently, the Court ruled in favor of the assessee, overturning the Tribunal's decision and upholding the Commissioner of Income-tax (Appeals) decision. en-us Mon, 25 Aug 2008 00:00:00 +0530 Mon, 21 Dec 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35090 The High Court determined that the payment to Bangalore Cancer Research Foundation by the assessee was for lease rentals and not for the purchase of equipment, classifying it as revenue expenditure rather than capital expenditure. The Court emphasized that the payment was a deposit to be adjusted against rentals and did not indicate asset acquisition. Consequently, the Court ruled in favor of the assessee, overturning the Tribunal's decision and upholding the Commissioner of Income-tax (Appeals) decision. Case-Laws Income Tax Mon, 25 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35090