https://www.taxtmi.com/caselaws?id=215256 The court allowed the appeals, setting aside the impugned orders and answering the substantial questions of law in favor of the assessee. It emphasized that the lease equalisation charge is a legitimate deduction as per accounting standards and reflects the real income of the assessee. The court also highlighted the importance of following RBI norms and ICAI guidelines in accounting practices for NBFCs. en-us Mon, 27 Feb 2012 00:00:00 +0530 Mon, 30 Jul 2012 07:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215256 The court allowed the appeals, setting aside the impugned orders and answering the substantial questions of law in favor of the assessee. It emphasized that the lease equalisation charge is a legitimate deduction as per accounting standards and reflects the real income of the assessee. The court also highlighted the importance of following RBI norms and ICAI guidelines in accounting practices for NBFCs. Case-Laws Income Tax Mon, 27 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215256