Nature of Lease rents paid - there was no real distinction ...

Long-term lease payments for 96-year leases equate to a permanent transfer, similar to a sale; considered capital expenditure.

April 15, 2014

Case Laws Income Tax HC

Nature of Lease rents paid - there was no real distinction between mischief of such a transfer in perpetuity and a transfer for the long period of 96 years - a permanent lease is as much an alienation as a sale - expenditure is of capital in nature - HC

View Source

← Previous Next →

Nature of Lease rents paid - there was no real distinction ...

Long-term lease payments for 96-year leases equate to a permanent transfer, similar to a sale; considered capital expenditure.

April 15, 2014

Case Laws Income Tax HC

You may also like:

Exemption from GST - upfront amount charged by the Applicant (as lease premium) for granting long-term lease of ninety years - The AAR concludes that long-term leases...

Levy of tax (GST) on one time long term lease premium payable/paid by the Jinmangal Corporation to Ahmedabad Urban Development Authority - supply or not - long term...

TDS u/s 194I - Rent - lump sum lease payments or one time lease charges, which are not adjustable against long term lease hold charges, which are not adjustable against...

Revision u/s 263 by CIT - set off of brought forward business loss from the income assessable under the head 'Capital Gain' - gain of depreciable assets by entering into...

TDS u/s 194I - payment made by the assessee to MMRDA for acquisition of the plot of land on lease from MMRDA - whether the lease premium paid for a long term lease of 60...

Whether long term lease of 90 years will be covered by the meaning of “renting“ or “leasing“ used in section 65 (105) (91a) - prima facie in favor of assessee - AT

Understatement of income - treatment of lease transactions as sales transaction - The Income Tax Authorities has not doubted the legal effect of the lease deed (being...

Levy of GST - Supply or not - leasing services - contribution paid/payable by the members towards Development Cost of the Bourse for the promotion of Exports of Gem and...

The Appellate Tribunal held that the term "One Time Upfront Amount" (referred to as premium, salami, cost, price, development charges, etc.) relates to a one-time...

Disallowance of depreciation in respect of asset given on lease - the lessee has been given only right to use the asset for the terms of the lease on payment of...

ITAT upheld CIT(A)'s decision allowing deduction of Finance Lease Rental Payments under section 37(1) as revenue expenditure. Revenue's appeal challenging depreciation...

Additions u/s 30 - deduction of Lease Equalization Charges - type of lease undertaken- scope of accounting standards - AO noticed that, assessee has created Rent...

TDS u/s 194I - lease premium paid to Mumbai Metropolitan Regional Development Authority (“MMRD") - lump sum lease premium or one-time upfront lease charges, which are...

Transaction of sale taking place or not - sale of Furnace - machinery or not - The contract involving receipt of lease rent for leasing of the flameless furnace does not...

Expenditure incurred in connection with transfer of the capital asset - As pertinent to note that lease deed was executed in the year 1996 in favour of the lessee and...

Quick Updates: