Revision u/s 263 - Depreciation on lease payment - The assessee ...

Income Tax

June 18, 2022

Revision u/s 263 - Depreciation on lease payment - The assessee as a lessee would be entitled for deduction of gross lease rental payments. The assessee’s methodology is to be accepted. The lease payments made by the assessee would be revenue expenditure for the assessee. We order so. The alternative claims as allowed by Ld. AO shall stand reversed. The claim of foreign exchange loss on these transactions shall be re-considered / re-adjudicated by Ld. AO in the light of our above adjudication. - AT

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Revision u/s 263 - Depreciation on lease payment - The assessee ...

Income Tax

June 18, 2022

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