Dismissing the appeal of the revenue the Court held that the amount deducted by the lessor towards compensation for premature termination of lease and licence agreement by the assessee in respect of two warehouses held to be deductible
PCIT v. Lee and Muirhead Pvt. Ltd. (2020)423 ITR 167 (Bom) (HC)
S.37(1) : Business expenditure — Termination of lease and licence – Deletion of expenditure is held to be justified .