Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2012 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (7) TMI 329 - AT - Income TaxDisallowance of lease charges - sale and lease back transaction - assessee is claiming an expenditure towards quarterly rent and lease management fee – Held that:- If the assessee used the safety locker for part of the Assessment Year and the other part falls in the next Assessment Year, the lease charges paid by the assessee has to be necessarily allowed in the next Assessment Year. Claim of fall of market value of Government securities - claim on account of depreciation in market value of Government securities and claim for loss in sale of Government securities – Held that:- Once it is accepted that Government securities were to be treated as stock-in-trade, the loss in such Government securities are to be allowed - claim for depreciation in market value of Government securities stands resolved in favour of the assessee
|