https://www.taxtmi.com/caselaws?id=284174 The Tribunal allowed the appeals partly, granting the deduction of financial lease expenses as revenue expenditure under Section 37(1) of the Income Tax Act, 1961. The Tribunal found the lease agreement genuine, reversed the disallowance of expenses treated as capital expenditure, and remanded the tax credit issue for further adjudication. Supporting evidence provided by the assessee, including invoices and lease agreements, played a crucial role in the Tribunal's decision. en-us Fri, 26 Jul 2019 00:00:00 +0530 Tue, 05 Nov 2019 09:46:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284174 The Tribunal allowed the appeals partly, granting the deduction of financial lease expenses as revenue expenditure under Section 37(1) of the Income Tax Act, 1961. The Tribunal found the lease agreement genuine, reversed the disallowance of expenses treated as capital expenditure, and remanded the tax credit issue for further adjudication. Supporting evidence provided by the assessee, including invoices and lease agreements, played a crucial role in the Tribunal's decision. Case-Laws Income Tax Fri, 26 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284174