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1974 (2) TMI 1 - DELHI HIGH COURTAssessee is a firm carrying on the business of re-rolling steel. It took on lease the factory premises from one Ravinder Nath under a lease deed dated April 2, 1956. The lease was for a period of five years commencing from 1st April, 1956. The rent payable for the premises was Rs. 500 per month. The lease deed did not contain any term giving the option to the assessee to renew the lease for a further period. On the other hand, the lease was terminable before the expiry of the lease period at the instance of the assessee by giving one month's notice. The lease was also terminable at the instance of the lessor on the breach of any of the conditions of the lease. The lease deed did not contain any specific term with regard to the liability of the lessor or the lessee in respect of the repairs to the factory premises - Whether expenditure incurred on repair would under these circumstances be allowable as business expenditure
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