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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  

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