AAR : Lease rentals paid during pre-operative period constitute ‘supply’ for immovable property construction, denies ITC

West Bengal AAR disallows Input Tax Credit (ITC) of lease rent paid during pre-operative period for leasehold land on which resort is being constructed on his own account to be used for furtherance of business, when the same is being capitalized and treated as capital expenditure; States that prohibition contained u/s 17(5)(d) is not limited to civil structure being constructed but extends to immovable property in general which includes supplies received for retaining the rig...