https://www.taxtmi.com/caselaws?id=57942 The Tribunal allowed the deduction of legal expenses incurred for drawing up a lease deed by a private discretionary trust in computing property income. The Tribunal deemed the expenses as revenue expenditure related to letting out the property, not capital investment. It applied the real income concept, deducting the legal expenses from the actual rent received. The Tribunal rejected the need to bifurcate the expenditure between property income and income from other sources, emphasizing the expenses' direct relation to property letting. The Judicial Member supported this decision, citing relevant legal provisions and dismissing alternative deduction claims. en-us Sat, 29 Oct 1983 00:00:00 +0530 Wed, 04 Feb 2015 14:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57942 The Tribunal allowed the deduction of legal expenses incurred for drawing up a lease deed by a private discretionary trust in computing property income. The Tribunal deemed the expenses as revenue expenditure related to letting out the property, not capital investment. It applied the real income concept, deducting the legal expenses from the actual rent received. The Tribunal rejected the need to bifurcate the expenditure between property income and income from other sources, emphasizing the expenses' direct relation to property letting. The Judicial Member supported this decision, citing relevant legal provisions and dismissing alternative deduction claims. Case-Laws Income Tax Sat, 29 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57942