The Income Tax Appellate Tribunal (ITAT) held that one-time payment of annual lease rent paid does not lose the character of the annual rent, so it considers as revenue expenditures and not capital in nature. The petitioner, Multitude Infrastructure Pvt. Ltd. purchased a hotel constructed on leased land obtained from Jaipur Development Authority (JDA) from […]
The post Onetime Payment of Annual Rent as per the Lease Deed is Revenue Expenditures: ITAT Allows Deduction [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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