https://www.taxtmi.com/caselaws?id=470861 Compensation paid to an existing tenant for surrendering tenancy rights may be deducted as business expenditure where property letting forms part of the taxpayer's business and rental receipts are taxed as business income. Securing vacant possession to let the premises to a new tenant at higher rent can arise from business necessity and commercial expediency. Where the payment does not acquire the property or create an enduring capital advantage, it is allowable under Section 37(1) of the Income-tax Act, 1961. en-us Wed, 26 Mar 2025 00:00:00 +0530 Tue, 11 Aug 2026 20:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470861 Compensation paid to an existing tenant for surrendering tenancy rights may be deducted as business expenditure where property letting forms part of the taxpayer's business and rental receipts are taxed as business income. Securing vacant possession to let the premises to a new tenant at higher rent can arise from business necessity and commercial expediency. Where the payment does not acquire the property or create an enduring capital advantage, it is allowable under Section 37(1) of the Income-tax Act, 1961. Case-Laws Income Tax Wed, 26 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470861