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Land aquired on lease

This query is : Resolved 
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(Querist)
14 March 2008 a govt company aquired land on lease on nominal amount with certain amount of rent which is to paid annualy.rent so paid will be capitalised or otherwise.
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pushpendra

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pushpendra (Expert)
14 March 2008 Lease for how much period? it is renewable of not? in my view it rent so paid should be revenue receipt
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D C Sivastava

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D C Sivastava (Querist)
14 March 2008 it is for a period of90 years and renewable
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CA Saurabh Maheshwari

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CA Saurabh Maheshwari (Expert)
15 March 2008 IT SHOULD BE CHARGED TO REVENUE EXPENDITURE
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D C Sivastava

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D C Sivastava (Querist)
15 March 2008 cost of aquiring land shall be capitalised or it will also be treated as revnue expenses
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