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Income Tax - Highlights / Catch Notes

Home Highlights August 2019 Year 2019 This

Proportionate allowability of lease premium u/s 37 - it is ...

Income Tax

August 12, 2019

Proportionate allowability of lease premium u/s 37 - it is difficult to appreciate that fact of rent being depressed rent can only be appreciated as such if there is recital about it in the lease rent - substantial amount of money was paid as premium, claimed and shown by assessee to be advance rents and where rents reserved - no hesitation to infer that rents reserved are depressed rents - deduction allowable

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