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2013 (3) TMI 127 - RAJASTHAN HIGH COURTLease rent of the machinery said to have been taken on hire disallowed - as per AO the lease agreement was of financing and not of operational work hence the lease rent was not that of business expenditure - ITAT affirmed the order of CIT (A)deleted the addition - Held that:- As decided in CIT Vs. Shaan Finance (P.) Ltd (1998 (3) TMI 8 - SUPREME COURT) and Rajshree Roadways Vs. Union of India & Ors (2003 (3) TMI 50 - RAJASTHAN HIGH COURT) the findings of the CIT (A) and the Tribunal, allowing lease rental as business expenditure, not calling for any interference - in favour of assessee.
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