Additions u/s 30 - deduction of Lease Equalization Charges - ...

Case Laws Income Tax

July 7, 2022

Additions u/s 30 - deduction of Lease Equalization Charges - type of lease undertaken- scope of accounting standards - AO noticed that, assessee has created Rent Equalization Reserve - The deduction on the basis of average rent per year will not affect the tax revenue of the department because of the reason that when actual payment of lease rent is more than the average rent in subsequent years, then excess deduction claimed in the earlier years would net off the difference and consequently at the end, there would be no difference in actual payment and amount of deduction claimed. - AT

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Additions u/s 30 - deduction of Lease Equalization Charges - ...

Case Laws Income Tax

July 7, 2022

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