Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2016 Year 2016 This

Cancellation of the lease and the payments of the consideration ...

Income Tax

June 7, 2016

Cancellation of the lease and the payments of the consideration - It is clearly a capital asset has come into existence in the hands of the assessee, which is of enduring benefit for the business of the assessee and consequently, the expenditure is liable to be treated as capital expenditure - Depreciation to be allowed - AT

View Source

 


 

You may also like:

  1. Company in liquidation - Subletting - The official liquidator is entitled to encash the capital asset and sell the lease hold rights for payment of dues to the...

  2. Financial lease - principal payments made towards financial lease - revenue or capital expenditure - assessee is not entitled to deduction of payment of principal amount...

  3. Applicability of section 50C - Capital gain - Sale of right in land/contingent right - proof of transfer of capital asset - Section 50C is also applicable on lease hold...

  4. 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...

  5. Claim of depreciation in respect of assets allegedly leased - financing transactions - assessee purchased assets and leased back to the same company claiming 100% depreciation - HC

  6. Capital gain u/s 45(4) - payment to the retiring partners - All that happened was the firm's assets were evaluated and the retiring partners were paid their share of the...

  7. Disallowance of set off of brought forward loss from transfer of short-term capital asset against gains arising from transfer of long-term capital asset - provisions of...

  8. CIRP - Removal of the Leasehold Land from the pull of Assets of the Corporate Debtor - right to terminate the Lease Deed - the Appellant has never initiated any...

  9. Addition u/s 37(1) - non-competition fee - revenue or capital expenditure - it does not bring in any capital asset - the payment is allowable u/s 37(1) - HC

  10. TDS u/s 194I premium paid for acquiring lease - payment for acquiring leasehold land is a capital expenditure - not liable for TDS u/s 194I - AT

 

Quick Updates:Latest Updates