https://www.taxtmi.com/caselaws?id=273906 The Tribunal upheld the Assessing Officer's decision to tax the principal portion of lease rentals as income, dismissing appeals by both the assessee and the Revenue. The Tribunal emphasized that if depreciation was claimed, full lease rentals had to be shown as income, irrespective of Accounting Standards. The decision was rendered on December 20, 2012, in Chennai. en-us Thu, 20 Dec 2012 00:00:00 +0530 Thu, 19 Jul 2018 14:18:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273906 The Tribunal upheld the Assessing Officer's decision to tax the principal portion of lease rentals as income, dismissing appeals by both the assessee and the Revenue. The Tribunal emphasized that if depreciation was claimed, full lease rentals had to be shown as income, irrespective of Accounting Standards. The decision was rendered on December 20, 2012, in Chennai. Case-Laws Income Tax Thu, 20 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273906