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2016 (9) TMI 337 - HC - Income TaxFinance Lease transaction - whether the entire lease rental should be offered as income contrary to the Accounting Standard 19 dealing with according of leases issued by the Institute of Chartered Accountants of India? - whether Tribunal was justified in not directing the assessing Officer to consider that in the case of financial lease only the interest income accrued to assessee should be taxed and not the entire lease rental as assessed by him and consequentially withdraw the claim of depreciation on leased assets? - Held that:- Tthe substantial questions of law above have been answered against the assessee and the issues are now pending before the Supreme Court
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