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    Income Tax

    Taxability of lease premium - whether it could be spread over...

    Lease Premium Taxable in Full in Current Year, Not Spread Over 99-Year Period.

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    Income TaxJuly 3, 2019Case LawsAT

    Taxability of lease premium - whether it could be spread over the period of 99 years or the same has to be assessed in the hands of assessee in the year in which it enters into lease agreement - Being the revenue in nature, entire amount is taxable in the instant AY itself.

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