Nature of expenditure - the amount paid by assessee to ITC ...
Income Tax
August 27, 2019
Nature of expenditure - the amount paid by assessee to ITC Limited at the time of termination of the agreement to manage the hotel, ought to be allowed, as a revenue expenditure or entitlement to depreciation @10 % as building - if the expenditure is not to be treated as ‘capital expenditure’, then it will have to be treated as ‘revenue expenditure’ was perhaps not addressed in the manner it should have been treated by the ITAT - remanded to ITAT
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