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2004 (10) TMI 74 - HC - Income TaxLease agreement of aircraft - Petitioner prayed that a direction be issued directing the Central Board of Direct Taxes to reconsider the application under section 10(15A) seeking approval to the lease agreements in respect of the two aircrafts leased to respondent No. 3 company. - It is clear that for getting the benefit of the aforesaid provision, the approval of the agreement by the Central Government is a must. In the instant case, admittedly, there is no approval by the Central Government. - It is contended by the Revenue that petitioner No. 3 was not a party to the agreement. However, it is not for this court to consider all this. It will be for the Central Government to examine these aspects. It is under these circumstances, as no cogent reasons have been given, we quash the impugned orders - We direct the Central Government to consider the application of the petitioners
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