Equipment Lease Rent paid Without Acquiring Ownership is Revenue Expense

Sundaram Infotech Solutions Ltd Vs ITO (ITAT Chennai)

We find that there is no quarrel on the proposition since the only dispute under the appeal is tax treatment under finance lease. The operating lease transactions have not been disturbed by Ld. AO and the only dispute is qua deduction of principal component under finance lease transactions. This fact is nowhere in dispute.

In further support, Ld. CIT-DR has emphasized the fact that it was the lessee who was responsible to obtain insuran

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