Addition made towards “provision for lease equalization charges” ...

Income Tax

October 5, 2015

Addition made towards “provision for lease equalization charges” while computing the book profit of the assessee for the purpose of determining tax U/s.115JB - the “Book Profit” computed as per the provisions of the Companies Act and in compliance with the Accounting Standards - However, AO and CIT(A) did not record such facts - matter remanded back for verification. - AT

View Source

← Previous Next →

Addition made towards “provision for lease equalization charges” ...

Income Tax

October 5, 2015

You may also like:

Deduction of lease equalization charges from lease rental income - lease equalization charges is a method of re-calibrating the depreciation – we cannot find fault with...

MAT - Computation of book profit u/s. 115JB - lease rent equalization charge cannot be said to be an unascertained liability - AT

MAT computation - the assessee's lease equalisation charges have to be added to its book profits under section 115JA - AT

Disallowance on account of lease equalization – if the annual leasing charge is equivalent to 30% of the value of leased assets, the assessee would debit its P&L account...

Additions u/s 30 - deduction of Lease Equalization Charges - type of lease undertaken- scope of accounting standards - AO noticed that, assessee has created Rent...

MAT computation - deduction of lease equalization charges while computing book profit - we cannot find fault with the assessee debiting lease equalization charges in the...

TDS u/s 194J OR 194I - Applicability of Tax Deduction at Source on payments towards internet & communication charges - lease line charges - No TDS liability

Financial lease - principal payments made towards financial lease - revenue or capital expenditure - assessee is not entitled to deduction of payment of principal amount...

Leasing of property - valuation - nature of charges received towards amenities provided under different agreements - all are part of rent - eligible for statutory...

Disallowance of depreciation in respect of asset given on lease - the lessee has been given only right to use the asset for the terms of the lease on payment of...

Quick Updates: