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2017 (3) TMI 1733 - AT - Income TaxPayment of lease rental - revenue expenditure - assessee has taken containers on lease - in the books of account, the containers were taken as assets - Held that:- The assessee claims that the containers were taken as lease. A copy of the agreement available at paper-book shows that it is a lease-cum-purchase of containers. It is not clear from the agreement whether it is a finance lease or operating lease. The fact remains that the assessee treated the containers as capital asset and alternatively claimed depreciation also. The alternative claim of depreciation was allowed by the Assessing Officer. Therefore, this Tribunal do not find any reason to interfere with the order of the lower authority and accordingly the same is confirmed. - Decided against assessee.
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