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Income Tax - Highlights / Catch Notes

Home Highlights October 2017 Year 2017 This

Disallowance of amortization of premium on leasehold land - ...

Income Tax

October 30, 2017

Disallowance of amortization of premium on leasehold land - Looking to the nature of the advantage which the assessee obtained in a commercial sense, the expenditure appears to be revenue expenditure.

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  1. Amortization of lease premium paid by the appellant - Whether lease premium paid Noida Authority is to be treated as advance rent? - HC

  2. Amortization of premium paid on investments under "held to maturity category" - assessee is entitled to the amortization of security premium, as claimed - HC

  3. MAT - Book profit - Amortization of lease hold land has been made as per accounting standard 10 of ICAI and amortization of land unclassified as per Accounting Standard...

  4. 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

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  6. 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...

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