TMI BlogDeduction of lease rentals for the equipment - lease rentals agreed between the parties were so crafted...Deduction of lease rentals for the equipment - lease rentals agreed between the parties were so crafted that they substantially cover present fair value of equipment - it is a case of purchase of asset by the assessee from CARE in the garb of lease agreement - Cannot be allowed as Revenue expenditure - However, depreciation to be allowed. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
