https://www.taxtmi.com/caselaws?id=277912 The appeals involved the reopening of assessment under Section 147 of the Income-tax Act, 1961, and the treatment of lease rentals. The Tribunal upheld the lower authority's decision to dismiss the reopening of assessment issue as conceded by the assessee. Regarding lease rentals, the Tribunal confirmed the disallowance of the claim for lease rentals as revenue expenditure, as the containers were treated as capital assets by the assessee and depreciation was allowed. Consequently, all appeals of the assessee were dismissed based on these findings. en-us Wed, 29 Mar 2017 00:00:00 +0530 Sat, 29 Dec 2018 06:40:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277912 The appeals involved the reopening of assessment under Section 147 of the Income-tax Act, 1961, and the treatment of lease rentals. The Tribunal upheld the lower authority's decision to dismiss the reopening of assessment issue as conceded by the assessee. Regarding lease rentals, the Tribunal confirmed the disallowance of the claim for lease rentals as revenue expenditure, as the containers were treated as capital assets by the assessee and depreciation was allowed. Consequently, all appeals of the assessee were dismissed based on these findings. Case-Laws Income Tax Wed, 29 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277912