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    July 30, 2025 Case Laws Income Tax
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    Income Tax

    Accrual of income - Nature of Lease – Finance by hire purchase l...

    Income Accrual and Lease Nature Examined Under AS-19; Finance Lease Claim Rejected in Hire Purchase Case.

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    Income TaxJuly 20, 2018Case LawsHC

    Accrual of income - Nature of Lease – Finance by hire purchase lease – classification as per Accounting Standard 19 (AS-19) - the question has to be seen from the terms of the agreement entered into between the assessee - the contentions of the assessee's is rejected that the transaction is only a finance lease

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