Nature of expenses - land registration charges - land taken over ...

January 5, 2024

Case Laws     Income Tax     AT

Nature of expenses - land registration charges - land taken over rent / lease - revenue or capital expenditure - The assessee cannot enjoy that property forever under a rent agreement/lease. The assessee may have to vacate that property before efflux of time depending on the business conditions of that particular place. Therefore, we are of the view that the lower authorities erred in treating the registration fees incurred by the assessee as capital expenditure. - AT

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