https://www.taxtmi.com/caselaws?id=300931 The High Court ruled in favor of the assessee regarding the deduction of lease equalisation charges, allowing the bifurcation of lease rental as per accounting standards. However, the Court sided with the Revenue on the issue of charging interest under section 234D, applying the provisions for assessment years post its insertion. The Court also held that interest could be charged even for the period after the introduction of section 234D. The Tax Case (Appeals) was disposed of with a split decision in favor of the parties on the respective issues. en-us Wed, 02 Jan 2019 00:00:00 +0530 Fri, 04 Mar 2022 08:55:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300931 The High Court ruled in favor of the assessee regarding the deduction of lease equalisation charges, allowing the bifurcation of lease rental as per accounting standards. However, the Court sided with the Revenue on the issue of charging interest under section 234D, applying the provisions for assessment years post its insertion. The Court also held that interest could be charged even for the period after the introduction of section 234D. The Tax Case (Appeals) was disposed of with a split decision in favor of the parties on the respective issues. Case-Laws Income Tax Wed, 02 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300931