CIT v. Project Automobiles

167 ITR 781High Court1987#6387 most cited

18

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2025.

Sections most often in play

Section 35D Section 40(a)(i)Section 80HHC Section 35(2AB)Section 28(iiid)Section 35 Section 45 Section 54EC

Judgments citing CIT v. Project Automobiles

BAJAJ HOLDINGS & INVESTMENT LTD ( FORMERLY BAJAJ AUTO LTD),MUMBAI vs. ACIT LTU, MUMBAI

ITA 5299/MUM/2010[2006-07]Status: DisposedITAT Mumbai17 Feb 2025AY 2006-07

…291 ITR (AT) 249. The CIT(A) concluded that no \ndeduction in respect of leasehold premium could be allowed as the \nsame constituted capital expenditure. The CIT(A) also placed \nreliance upon the judgment in the case of CIT Vs. Project \nAutomobiles (1987) 167 ITR 781 (MP) wherein it was held that the \npremium paid for securing lease of land is capital expenditure \neven though paid in annual installments. \n \n5. 3. Being aggrieved the Assessee has carried the issue in appeal \nbefore the Tribunal. \n \n5. 4. During the course of hearing the learned Authorised \nRepresentative for the Assessee submitted th…

BAJAJ HOLDINGS & INVESTMENTS LTD ( FORMERLY KNOWN AS BAJAJ AUTO LTD),MUMBAI vs. ADDL CIT RG 3(1), MUMBAI

The appeals are partly allowed

ITA 6838/MUM/2008[2004-2005]Status: DisposedITAT Mumbai17 Feb 2025AY 2004-2005

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Ms. Vasanti PatelFor Respondent: Shri Ankush Kapoor

…orted in 291 ITR (AT) 249. The CIT(A) concluded that no deduction in respect of leasehold premium could be allowed as the same constituted capital expenditure. The CIT(A) also placed reliance upon the judgment in the case of CIT Vs. Project Automobiles (1987) 167 ITR 781 (MP) wherein it was held that the premium paid for securing lease of land is capital expenditure even though paid in annual installments. 5.3. Being aggrieved the Assessee has carried the issue in appeal before the Tribunal. 5.4. During the course of hearing the learned Authorised Representative for the Assessee submitted that this issue has be…

THE ACIT-3(1), INDORE vs. M/S. MADHYA PRADESH AUDYOGIK KENDRA VIKAS NIGAM (I) LTD., INDORE

In the result, the appeals filed by the assessee company –

ITA 534/IND/2016[2008-09]Status: DisposedITAT Indore21 Mar 2018AY 2008-09

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

For Respondent: Shri Manoj Munshi

…an asset and therefore, the payment is in the nature of capital expenditure. It was also pointed out by him that the CIT(A) in AY 1992-93 has taken a different view by referring to the judgment of Madhya Pradesh High Court in the case of Project Automobiles 167 ITR 781 wherein it was held that premium payable by the assessee to secure a permanent lease cannot be considered as advance rent and the same as to be held as capital expenditure. Further reliance was placed on the judgment of AP High Court in the case of Aditya Minerals Pvt Ltd. 167 ITR 774 which was relied upon by the ld. CIT(A) in AY 92-93. The…

THE ACIT-3(1), INDORE vs. M/S. MADHYA PRADESH AUDYOGIK KENDRA VIKAS NIGAM (I) LTD., INDORE

In the result, the appeals filed by the assessee company –

ITA 533/IND/2016[2007-08]Status: DisposedITAT Indore21 Mar 2018AY 2007-08

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

For Respondent: Shri Manoj Munshi

…an asset and therefore, the payment is in the nature of capital expenditure. It was also pointed out by him that the CIT(A) in AY 1992-93 has taken a different view by referring to the judgment of Madhya Pradesh High Court in the case of Project Automobiles 167 ITR 781 wherein it was held that premium payable by the assessee to secure a permanent lease cannot be considered as advance rent and the same as to be held as capital expenditure. Further reliance was placed on the judgment of AP High Court in the case of Aditya Minerals Pvt Ltd. 167 ITR 774 which was relied upon by the ld. CIT(A) in AY 92-93. The…

THE ACIT-3(1), INDORE vs. M/S. MADHYA PRADESH AUDYOGIK KENDRA VIKAS NIGAM (I) LTD., INDORE

In the result, the appeals filed by the assessee company –

ITA 532/IND/2016[2006-07]Status: DisposedITAT Indore21 Mar 2018AY 2006-07

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

For Respondent: Shri Manoj Munshi

…an asset and therefore, the payment is in the nature of capital expenditure. It was also pointed out by him that the CIT(A) in AY 1992-93 has taken a different view by referring to the judgment of Madhya Pradesh High Court in the case of Project Automobiles 167 ITR 781 wherein it was held that premium payable by the assessee to secure a permanent lease cannot be considered as advance rent and the same as to be held as capital expenditure. Further reliance was placed on the judgment of AP High Court in the case of Aditya Minerals Pvt Ltd. 167 ITR 774 which was relied upon by the ld. CIT(A) in AY 92-93. The…

THE ACIT-3(1), INDORE vs. M/S. MADHYA PRADESH AUDYOGIK KENDRA VIKAS NIGAM (I) LTD., INDORE

In the result, the appeals filed by the assessee company –

ITA 531/IND/2016[2004-05]Status: DisposedITAT Indore21 Mar 2018AY 2004-05

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

For Respondent: Shri Manoj Munshi

…an asset and therefore, the payment is in the nature of capital expenditure. It was also pointed out by him that the CIT(A) in AY 1992-93 has taken a different view by referring to the judgment of Madhya Pradesh High Court in the case of Project Automobiles 167 ITR 781 wherein it was held that premium payable by the assessee to secure a permanent lease cannot be considered as advance rent and the same as to be held as capital expenditure. Further reliance was placed on the judgment of AP High Court in the case of Aditya Minerals Pvt Ltd. 167 ITR 774 which was relied upon by the ld. CIT(A) in AY 92-93. The…

THE ACIT-3(1), INDORE vs. M/S. MADHYA PRADESH AUDYOGIK KENDRA VIKAS NIGAM (I) LTD., INDORE

In the result, the appeals filed by the assessee company –

ITA 530/IND/2016[2003-04]Status: DisposedITAT Indore21 Mar 2018AY 2003-04

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

For Respondent: Shri Manoj Munshi

…an asset and therefore, the payment is in the nature of capital expenditure. It was also pointed out by him that the CIT(A) in AY 1992-93 has taken a different view by referring to the judgment of Madhya Pradesh High Court in the case of Project Automobiles 167 ITR 781 wherein it was held that premium payable by the assessee to secure a permanent lease cannot be considered as advance rent and the same as to be held as capital expenditure. Further reliance was placed on the judgment of AP High Court in the case of Aditya Minerals Pvt Ltd. 167 ITR 774 which was relied upon by the ld. CIT(A) in AY 92-93. The…

M/S. SEZ INDORE LIMTED,INDORE vs. THE DCIT CIRCLE -3(1), INDORE

In the result, the appeals filed by the assessee company –

ITA 206/IND/2016[2010-11]Status: DisposedITAT Indore21 Mar 2018AY 2010-11

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

For Respondent: Shri Manoj Munshi

…an asset and therefore, the payment is in the nature of capital expenditure. It was also pointed out by him that the CIT(A) in AY 1992-93 has taken a different view by referring to the judgment of Madhya Pradesh High Court in the case of Project Automobiles 167 ITR 781 wherein it was held that premium payable by the assessee to secure a permanent lease cannot be considered as advance rent and the same as to be held as capital expenditure. Further reliance was placed on the judgment of AP High Court in the case of Aditya Minerals Pvt Ltd. 167 ITR 774 which was relied upon by the ld. CIT(A) in AY 92-93. The…

M/S. SEZ INDORE LIMTED,INDORE vs. THE DCIT CIRCLE -3(1), INDORE

In the result, the appeals filed by the assessee company –

ITA 205/IND/2016[2009-10]Status: DisposedITAT Indore21 Mar 2018AY 2009-10

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

For Respondent: Shri Manoj Munshi

…an asset and therefore, the payment is in the nature of capital expenditure. It was also pointed out by him that the CIT(A) in AY 1992-93 has taken a different view by referring to the judgment of Madhya Pradesh High Court in the case of Project Automobiles 167 ITR 781 wherein it was held that premium payable by the assessee to secure a permanent lease cannot be considered as advance rent and the same as to be held as capital expenditure. Further reliance was placed on the judgment of AP High Court in the case of Aditya Minerals Pvt Ltd. 167 ITR 774 which was relied upon by the ld. CIT(A) in AY 92-93. The…

M/S. M.P. AUDHYOGIK KENDRA VIKAS NIGAM,INDORE vs. THE DCIT 3(1), INDORE

In the result, the appeals filed by the assessee company –

ITA 761/IND/2014[2010-11]Status: DisposedITAT Indore21 Mar 2018AY 2010-11

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

For Respondent: Shri Manoj Munshi

…an asset and therefore, the payment is in the nature of capital expenditure. It was also pointed out by him that the CIT(A) in AY 1992-93 has taken a different view by referring to the judgment of Madhya Pradesh High Court in the case of Project Automobiles 167 ITR 781 wherein it was held that premium payable by the assessee to secure a permanent lease cannot be considered as advance rent and the same as to be held as capital expenditure. Further reliance was placed on the judgment of AP High Court in the case of Aditya Minerals Pvt Ltd. 167 ITR 774 which was relied upon by the ld. CIT(A) in AY 92-93. The…

M/S. SEZ INDORE LIMITED,INDORE vs. THE CIT-I, INDORE

In the result, the appeals filed by the assessee company –

ITA 571/IND/2014[2006-07]Status: DisposedITAT Indore21 Mar 2018AY 2006-07

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

For Respondent: Shri Manoj Munshi

…an asset and therefore, the payment is in the nature of capital expenditure. It was also pointed out by him that the CIT(A) in AY 1992-93 has taken a different view by referring to the judgment of Madhya Pradesh High Court in the case of Project Automobiles 167 ITR 781 wherein it was held that premium payable by the assessee to secure a permanent lease cannot be considered as advance rent and the same as to be held as capital expenditure. Further reliance was placed on the judgment of AP High Court in the case of Aditya Minerals Pvt Ltd. 167 ITR 774 which was relied upon by the ld. CIT(A) in AY 92-93. The…

M/S MADHYA PRADESH AUDYOGIK KENDRA VIKAS NIGAM (INDORE) LTD.,INDORE vs. THE ACIT3(1), INDORE

In the result, the appeals filed by the assessee company –

ITA 351/IND/2013[2008-09]Status: DisposedITAT Indore21 Mar 2018AY 2008-09

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

For Respondent: Shri Manoj Munshi

…an asset and therefore, the payment is in the nature of capital expenditure. It was also pointed out by him that the CIT(A) in AY 1992-93 has taken a different view by referring to the judgment of Madhya Pradesh High Court in the case of Project Automobiles 167 ITR 781 wherein it was held that premium payable by the assessee to secure a permanent lease cannot be considered as advance rent and the same as to be held as capital expenditure. Further reliance was placed on the judgment of AP High Court in the case of Aditya Minerals Pvt Ltd. 167 ITR 774 which was relied upon by the ld. CIT(A) in AY 92-93. The…

M/S MADHYA PRADESH AUDYOGIK KENDRA VIKAS NIGAM (INDORE) LTD.,INDORE vs. THE ACIT3(1), INDORE

In the result, the appeals filed by the assessee company –

ITA 350/IND/2013[2007-08]Status: DisposedITAT Indore21 Mar 2018AY 2007-08

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

For Respondent: Shri Manoj Munshi

…an asset and therefore, the payment is in the nature of capital expenditure. It was also pointed out by him that the CIT(A) in AY 1992-93 has taken a different view by referring to the judgment of Madhya Pradesh High Court in the case of Project Automobiles 167 ITR 781 wherein it was held that premium payable by the assessee to secure a permanent lease cannot be considered as advance rent and the same as to be held as capital expenditure. Further reliance was placed on the judgment of AP High Court in the case of Aditya Minerals Pvt Ltd. 167 ITR 774 which was relied upon by the ld. CIT(A) in AY 92-93. The…

M/S MADHYA PRADESH AUDYOGIK KENDRA VIKAS NIGAM (INDORE) LTD.,INDORE vs. THE ACIT3(1), INDORE

In the result, the appeals filed by the assessee company –

ITA 349/IND/2013[2006-07]Status: DisposedITAT Indore21 Mar 2018AY 2006-07

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

For Respondent: Shri Manoj Munshi

…an asset and therefore, the payment is in the nature of capital expenditure. It was also pointed out by him that the CIT(A) in AY 1992-93 has taken a different view by referring to the judgment of Madhya Pradesh High Court in the case of Project Automobiles 167 ITR 781 wherein it was held that premium payable by the assessee to secure a permanent lease cannot be considered as advance rent and the same as to be held as capital expenditure. Further reliance was placed on the judgment of AP High Court in the case of Aditya Minerals Pvt Ltd. 167 ITR 774 which was relied upon by the ld. CIT(A) in AY 92-93. The…

M/S MADHYA PRADESH AUDYOGIK KENDRA VIKAS NIGAM (INDORE) LTD.,INDORE vs. THE ACIT3(1), INDORE

In the result, the appeals filed by the assessee company –

ITA 348/IND/2013[2004-05]Status: DisposedITAT Indore21 Mar 2018AY 2004-05

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

For Respondent: Shri Manoj Munshi

…an asset and therefore, the payment is in the nature of capital expenditure. It was also pointed out by him that the CIT(A) in AY 1992-93 has taken a different view by referring to the judgment of Madhya Pradesh High Court in the case of Project Automobiles 167 ITR 781 wherein it was held that premium payable by the assessee to secure a permanent lease cannot be considered as advance rent and the same as to be held as capital expenditure. Further reliance was placed on the judgment of AP High Court in the case of Aditya Minerals Pvt Ltd. 167 ITR 774 which was relied upon by the ld. CIT(A) in AY 92-93. The…

M/S MADHYA PRADESH AUDYOGIK KENDRA VIKAS NIGAM (INDORE) LTD.,INDORE vs. THE ACIT3(1), INDORE

In the result, the appeals filed by the assessee company –

ITA 347/IND/2013[2003-04]Status: DisposedITAT Indore21 Mar 2018AY 2003-04

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

For Respondent: Shri Manoj Munshi

…an asset and therefore, the payment is in the nature of capital expenditure. It was also pointed out by him that the CIT(A) in AY 1992-93 has taken a different view by referring to the judgment of Madhya Pradesh High Court in the case of Project Automobiles 167 ITR 781 wherein it was held that premium payable by the assessee to secure a permanent lease cannot be considered as advance rent and the same as to be held as capital expenditure. Further reliance was placed on the judgment of AP High Court in the case of Aditya Minerals Pvt Ltd. 167 ITR 774 which was relied upon by the ld. CIT(A) in AY 92-93. The…

DCIT, NEW DELHI vs. M/S. DELHI INTERNATIONAL AIRPORT PVT. LTD., NEW DELHI

In the result appeal of the revenue in ITA No

ITA 4202/DEL/2013[2007-08]Status: DisposedITAT Delhi14 Dec 2017AY 2007-08

Bench: Shri Amit Shukla & Shri Prashant Maharishiassessment Year: 2007-08 Acit, Vs. M/S. Delhi International Airport Pvt. Ltd. Circle 10(1) Udaan Bhawan, Terminal 1B, New Delhi Indira Gandhi International Airport, New Delhi. Pan No. Aaccd3570F (Appellant) (Respondent) Assessment Year: 2007-08 Dcit, Vs. M/S. Delhi International Airport Pvt. Ltd. Circle 10(1) Udaan Bhawan, Terminal 1B, New Delhi Indira Gandhi International Airport, New Delhi. Pan No. Aaccd3570F (Appellant) (Respondent) Co No. 226/Del/2011 (Arising Ita No.2720/Del/2011) Assessment Year: 2007-08

For Appellant: Shri S.E. Dastur, Sr. Advocate and Shri Ankit Agrawal, CAFor Respondent: Ms. Rachna Singh, CIT(DR)

Section 143(3)Section 271(1)(c)Section 80I

…by the assessee. In support, she relied upon following judgments on various proposition raised by her:- • Lease on permanent basis: Amount paid in instalments for obtaining a lease on permanent basis is a capital expenditure; CIT v Project Automobiles, (1987) 167 ITR 781. • Lump sum paid as premium for securing lease hold right held as capital expenditure; Joint CIT v Mukund Ltd. (2007) 291 ITR (AT) 249 (Mumbai) (SB). • Assessee firm acquired premises on lease from AAI. It paid certain amount to AAI towards renovation and alterations carried out in premises on its behalf. The expenditure being capital in nature n…

ACIT, NEW DELHI vs. M/S DELHI INTERNATIONAL AIRPORT PVT. LTD., NEW DELHI

In the result appeal of the revenue in ITA No

ITA 2720/DEL/2011[2007-08]Status: DisposedITAT Delhi14 Dec 2017AY 2007-08

Bench: Shri Amit Shukla & Shri Prashant Maharishiassessment Year: 2007-08 Acit, Vs. M/S. Delhi International Airport Pvt. Ltd. Circle 10(1) Udaan Bhawan, Terminal 1B, New Delhi Indira Gandhi International Airport, New Delhi. Pan No. Aaccd3570F (Appellant) (Respondent) Assessment Year: 2007-08 Dcit, Vs. M/S. Delhi International Airport Pvt. Ltd. Circle 10(1) Udaan Bhawan, Terminal 1B, New Delhi Indira Gandhi International Airport, New Delhi. Pan No. Aaccd3570F (Appellant) (Respondent) Co No. 226/Del/2011 (Arising Ita No.2720/Del/2011) Assessment Year: 2007-08

For Appellant: Shri S.E. Dastur, Sr. Advocate and Shri Ankit Agrawal, CAFor Respondent: Ms. Rachna Singh, CIT(DR)

Section 143(3)Section 271(1)(c)Section 80I

…by the assessee. In support, she relied upon following judgments on various proposition raised by her:- • Lease on permanent basis: Amount paid in instalments for obtaining a lease on permanent basis is a capital expenditure; CIT v Project Automobiles, (1987) 167 ITR 781. • Lump sum paid as premium for securing lease hold right held as capital expenditure; Joint CIT v Mukund Ltd. (2007) 291 ITR (AT) 249 (Mumbai) (SB). • Assessee firm acquired premises on lease from AAI. It paid certain amount to AAI towards renovation and alterations carried out in premises on its behalf. The expenditure being capital in nature n…