Lease is not a hire purchase where lessor bound to maintain the asset

HIGH COURT OF JHARKHAND Commissioner of Income-tax, Ranchi versus Tata Robins Fraser Ltd. T.A. NOS. 3 to 8 of 2000 and 9 OF 2001 (R) SEPTEMBER 12, 2012 ORDER Heard learned counsel for the parties. 2. Following questions have been framed while admitting the appeals :- A.  Whether the ITAT on the facts and in the circumstances of the case, was justified in allowing the claim of expenses on lease-rent as revenue expenditure when lease agreement seen in proper perspective pointed to an agreement of hire-purchase rather than an agreement of lease which necessiated the expenditure...