https://www.taxtmi.com/caselaws?id=239290 Insufficient factual material prevented a conclusive determination of whether the assessee's leasing activity was a finance lease or an operating lease for liability under the Interest Tax Act, 1974. The assessee had taken inconsistent positions in different proceedings, and the authorities below had not recorded a clear finding on the true character of the transactions. Because applicability of the charging provision depended on that characterization, the issue could not be decided on the existing record. The matter was remanded to the Assessing Officer for fresh adjudication after examination of complete facts and evidence. en-us Wed, 17 Apr 2013 00:00:00 +0530 Thu, 16 Apr 2015 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239290 Insufficient factual material prevented a conclusive determination of whether the assessee's leasing activity was a finance lease or an operating lease for liability under the Interest Tax Act, 1974. The assessee had taken inconsistent positions in different proceedings, and the authorities below had not recorded a clear finding on the true character of the transactions. Because applicability of the charging provision depended on that characterization, the issue could not be decided on the existing record. The matter was remanded to the Assessing Officer for fresh adjudication after examination of complete facts and evidence. Case-Laws Income Tax Wed, 17 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239290