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2019 (2) TMI 649 - HC - Income TaxLease equalization charges - Held that:- The said question has been decided against the Revenue by the Hon'ble Supreme Court in the case of Commissioner of Income Tax vs. Virtual Soft Systems Ltd., (2018 (4) TMI 1472 - SUPREME COURT). Accordingly, the said question is decided against the Revenue and the appeals are dismissed as against the said question of law, i.e., in respect of lease equalization charges. Deduction of 1/10th of the share issue expenses - the provisions of amortization under Section 35D applied only to the primary issue of shares and in respect of subsequent share issues, the expenditure had to be disallowed as capital expenditure - Held that:- Tribunal has allowed the same on the ground that such expenses were allowed in the assessment years 1990-91/1993-94 and 1/10th of the same was allowed 8/5 years out of 10 years till the assessment year 1996-97. In our considered view, the Tribunal should have remanded the matter to the Assessing Officer to cause verification and then decide the issue. Therefore, we are of the view that the first substantial question of law is to be remanded to the AO for fresh consideration.
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