Del. HC: Threshold Income to Claim Financial Aid Under Rashtriya Arogya Nidhi Unreasonable  ||  Bom. HC: Tender Conditions Challenged by Contractors Through PIL Pollute Purity of Stream of PIL  ||  Del. HC: Can Only Interfere With Industrial Tribunal’s Decision if Found Perverse  ||  Raj. HC: Impermissible for Mag. & ASJ to Take Cognizance Against Same Accused for Diff. Offences  ||  Del. HC: Municipal Solid Waste in Delhi Not Getting Processed as Per Solid Waste Management Rules  ||  Supreme Court Launches Whatsapp Messaging Services, Advocates and Parties to Receive Updates  ||  Kar. HC: Challenge to Singing State Anthem Dismissed, Right to Remain Silent Cited  ||  Del. HC: Property Given by Deceased Husband Can Only be Enjoyed by Hindu Woman Without Income  ||  SC: Can Only Apply Egg Shell Skull Rule if Patient Had Pre-Existing Conditions  ||  NCDRC Members Roasted for Issuing Warrants Despite SC’s Order Directing Non-Coercive Steps    

ITAT: Lease Rental on Equipment Paid Without Acquiring Ownership is Revenue Expenditure - (21 Jul 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT) held that lease charges paid for the use of the asset, without acquiring any ownership rights in the same, are allowable as revenue expenditure under Section 37 of the Income Tax Act, 1961.

Tags : ITAT   LEASE CHARGES   REVENUE EXPENDITURE  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved