https://www.taxtmi.com/caselaws?id=185293 The High Court set aside the ITAT's decision and remanded the case to the AO for reevaluation. The AO was tasked with determining whether the transactions constituted financial or operating leases, assessing the principal business of the assessee, and establishing if the company met the criteria of a financial entity under Section 2(5B) of the Interest Tax Act. The AO was given a six-month deadline to complete the assessment, taking into account Supreme Court precedents and applicable CBDT circulars, with all arguments remaining open for consideration. en-us Tue, 17 Mar 2015 00:00:00 +0530 Mon, 08 Aug 2016 14:13:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185293 The High Court set aside the ITAT's decision and remanded the case to the AO for reevaluation. The AO was tasked with determining whether the transactions constituted financial or operating leases, assessing the principal business of the assessee, and establishing if the company met the criteria of a financial entity under Section 2(5B) of the Interest Tax Act. The AO was given a six-month deadline to complete the assessment, taking into account Supreme Court precedents and applicable CBDT circulars, with all arguments remaining open for consideration. Case-Laws Income Tax Tue, 17 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185293