https://www.taxtmi.com/caselaws?id=404342 The Tribunal upheld the CIT-(A)'s order, treating lease rentals income as part of a finance lease for an Indian railway finance Corporation. The decision aligned with previous tribunal and High Court judgments, emphasizing the distinction between financial and operational leases. The consistent view supported the finance lease treatment, resulting in a favorable outcome for the assessee, a Government of India Undertaking. The appeal by the Revenue was dismissed, and the assessee's cross objection was allowed, maintaining the established position on lease characterization dating back to the assessment year 2001-02. en-us Tue, 09 Feb 2021 00:00:00 +0530 Mon, 22 Feb 2021 19:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404342 The Tribunal upheld the CIT-(A)'s order, treating lease rentals income as part of a finance lease for an Indian railway finance Corporation. The decision aligned with previous tribunal and High Court judgments, emphasizing the distinction between financial and operational leases. The consistent view supported the finance lease treatment, resulting in a favorable outcome for the assessee, a Government of India Undertaking. The appeal by the Revenue was dismissed, and the assessee's cross objection was allowed, maintaining the established position on lease characterization dating back to the assessment year 2001-02. Case-Laws Income Tax Tue, 09 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404342