Payment for Enduring Right of Possession Over Premises Deemed Capital Expenditure Due to Permanent Nature of Transaction.

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Full Text of the Document

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....Nature of expenditure - payment made to sub-tenant - In fact, through the negotiation the assessee acquired some kind of an enduring right of possession over the occupied area of the said premises surrendered to them by those occupants. It had the incidents of permanence - the expenditure was capital in nature.....