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

Lessee Can Deduct Gross Lease Rental Payments as Revenue Expenditure; Foreign Exchange Loss Claims to Be Re-evaluated.

June 18, 2022

Case Laws Income Tax AT

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 ...

Lessee Can Deduct Gross Lease Rental Payments as Revenue Expenditure; Foreign Exchange Loss Claims to Be Re-evaluated.

June 18, 2022

Case Laws Income Tax AT

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