High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Lease Premium Paid by Tenant to Landlord for Surrender of Tenancy Rights is a Capital Expenditure, Not Revenue Expenditure. The premium paid to vacate the premises and surrender tenancy rights is capital in nature, not deductible as business expenditure under Section 37 of the Income Tax Act, 1961.
17 Jul 2015The Revenue (Commissioner of Income Tax and Assistant Commissioner of Income Tax) filed an appeal under Section 260-A of the Income Tax Act, 1961, aga...
