Relief to Britannia Industries: ITAT Allows claim of Deduction for Lease Premium on ground of Absence of Capital Expenditure [Read Order]

Relief - Relief to Britannia Industries - Britannia Industries - ITAT - claim - Deduction - claim of Deduction - ITAT Allows claim of Deduction - Lease Premium - Capital Expenditure - taxscan

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) granted relief to Britannia Industries by allowing the claim of deduction for lease premium on the ground of the absence of capital expenditure.  Britannia Industries, the appellant assessee was a public limited company engaged in the business of manufacturing and trading bakery and dairy products…

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