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Lease is not a hire purchase where lessor bound to maintain the asset
Case Law Details
- Case Name
- Commissioner of Income-tax, Ranchi Vs Tata Robins Fraser Ltd. (Jharkhand High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts
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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 to be treated as...
