Calcutta HC: Demolition Orders Cannot be Challenged under Article 226 if a Statutory Appeal Exists  ||  Kerala High Court: Disability Pension is Payable to Voluntary Dischargee For Service-Related Illness  ||  Calcutta High Court: Partition Decree is Executable Only After Stamp Duty Payment  ||  Calcutta HC: Contempt Court Cannot Grant New Relief Beyond Original Order Once Compliance is Met  ||  Kerala High Court: Intentional Judicial Decisions Cannot be Altered as Clerical Errors under CPC  ||  Supreme Court: Delay In Filing Appeals under Section 74 of 2013 Land Acquisition Act is Condonable  ||  SC: Statutory Authorities may Intervene When Housing Societies Delay Membership Decisions  ||  SC: Quasi-Judicial Authorities Cannot Exercise Review Powers Unless Expressly Granted By Statute  ||  SC: Special Court Cannot Order Confiscation While Appeal Against Attachment Confirmation is Pending  ||  SC: Photocopies are Not Evidence Unless Conditions for Leading Secondary Evidence are Proved    

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 2026 - All Rights Reserved