Lease transaction is genuine if lessee has got right just to use the asset & have to return it back it on termination of lease

HIGH COURT OF RAJASTHAN Commissioner of Income-tax, Udaipur Versus Banswara Syntex Ltd. DINESH MAHESHWARI AND Arun Bhansali, JJ. D.B. IT Appeal NO. 54 OF 2007 JANUARY  15, 2013 ORDER Dinesh Maheshwari, J. This appeal under Section 260A of the Income Tax Act, 1961 [‘the Act’] is directed against the order dated 22.09.2006 as passed in ITA No. 806/JDPR/2005 whereby the Income Tax Appellate Tribunal, Jodhpur Bench, Jodhpur [‘the Tribunal’] dismissed the appeal filed by the revenue and affirmed the order dated 18.10.2005 as passed by the Commissioner of ...