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Whereas the expenditure of a capital nature incurred on the renovation etc. of a building which is not owned by the assessee but in respect of which the assessee holds mere occupancy rights cannot be allowed deduction as a revenue expense but such expenditure of a capital nature is liable to be considered as a building owned by the assessee for the purposes of section 32 - Depreciation to be allowed - Tri

Income Tax - Whereas the expenditure of a capital nature incurred on the renovation etc. of a building, which is not owned by the assessee but in respect of which the assessee holds mere occupancy rig .....

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