Held that a lease was not a permanent transfer of immovable property. It was for a specific period only and terminable as per terms and conditions of the agreement even before the expiry of the period of the lease by both the parties. The assessee had incurred the registration expenses in connection of his business. The assessee needed premises in order to carry on the business in various places and accordingly, had taken property on rent. The period of the agreement perhaps was more than one year and attracted compulsory registration of the agreement. The assessee could not enjoy that property forever under a rent agreement or lease. The assessee may have to vacate that property before efflux of time depending on the business conditions of that particular place. Therefore, the lower authorities had erred in treating the land registration fees incurred as capital expenditure.  (AY.2008-09)