Section 37(1) of the Income-tax Act, 1961—Business expenditure— Payment made towards vacating the premises was revenue expenditure

Facts: "Whether the Tribunal erred in deleting the payment made by the assessee to M/s. GESCO amounting to Rs. 20.00 crore towards vacating the premises treating it as revenue expenditure?"

Held, that similar issue has come up before this Court in the case of this very assessee, thus, appeal was dismissed Hence, this additional question, therefore, not considered. - CIT V/s HONGKONG & SHANGHAI BANKING CORPORATION LTD. - [2019] 11 ITCD Online 55 (BOM)