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Income Tax - Highlights / Catch Notes

Home Highlights February 2012 Year 2012 This

Deduction of lease equalization charges from lease rental income ...

Income Tax

February 14, 2012

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 the assessee debiting lease equalization charges in the AYs in issue, in its P&L A/c. This represents true and fair view of the accounts; a statutory requirement u/s 211(2) of the Companies Act. .... - HC

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