Mere transfer of unexpired contracts cannot be treated as Capital Expenditure

Brief Facts and Question of Law:

Brief Facts of the Assessee:

There are 2 matters involved in the appeal filed which are explained as below:

• 1^st Matter – The assessee company is operating as Non-Banking Financial Company (NBFC). Due to downturn in NBFC business during the year ended 30.06.1998 and the defaults faced by the company in leasing business, the assessee company decided to red

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