https://www.taxtmi.com/caselaws?id=60968 The Appellate Tribunal upheld the decision to disallow the lease money deduction for the assessment year 1980-81, considering it capital expenditure for acquiring capital assets based on the terms of the lease agreement and lack of evidence regarding possession or commencement of work on the leased lands. The tribunal also deemed the compromise decree as collusive and not binding on the revenue, leading to the rejection of the claim for the remaining amount of Rs. 1,14,415. en-us Thu, 27 Jun 1985 00:00:00 +0530 Mon, 10 Jan 2011 11:56:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60968 The Appellate Tribunal upheld the decision to disallow the lease money deduction for the assessment year 1980-81, considering it capital expenditure for acquiring capital assets based on the terms of the lease agreement and lack of evidence regarding possession or commencement of work on the leased lands. The tribunal also deemed the compromise decree as collusive and not binding on the revenue, leading to the rejection of the claim for the remaining amount of Rs. 1,14,415. Case-Laws Income Tax Thu, 27 Jun 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60968