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2010 (4) TMI 759 - HC - Income TaxDisallowance u/s 40(a)(ia) - Car lease rentals covered u/s 194-I or u/s 194C - Held that:- before the Tribunal, the revenue was unable to dispute the fact that the vehicles in question were given on lease and that they did not carry any responsibility of the day-to-day maintenance or upkeep of the vehicles - Thus, both the Commissioner of Income-tax (Appeals) and the Income-tax Appellate Tribunal have returned findings of fact that the contract was not a transport contract, but merely entailed the taking of vehicles on lease and the payments were in the nature of lease rentals simplicitor - Consequently, the disallowance made by the Assessing Officer u/s 40(a)(ia) was liable to be deleted - Decided in favour of assessee.
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