2019 (7) TMI 1498

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....Adv. And Mr. S.K. Mishra, Adv. ORDER The Court: Mr. Jhunjhunwala, learned advocate appears on behalf of appellant. He submits, judgment of the Tribunal has given rise to question formulated for answer. Advance rent paid by his client-assessee and thereafter amortized each year, has been disallowed. This was done in relying on Special Bench judgment of Tribunal in JCIT versus Mukund Ltd. reporte....

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.... the licensee for refund or repayment of the premium aforesaid or any part thereof, could resume the land in question. Thus, in case of termination of lease, the 'premium' was non-refundable and, therefore, the same could not be considered as advance payment of rent. There was no clause in the agreement to show that the amount of Rs. 2.04 crore was paid by the assessee as advance rent for all futu....