https://www.taxtmi.com/caselaws?id=312586 The HC dismissed the Revenue's appeal, affirming the Tribunal's decision that 'lease equalization charges' do not qualify as a reserve under Explanation (b) to Section 115JA(2) of the IT Act. The court agreed with the assessee, stating these charges are not reserves but represent differences in statutory depreciation and capital cost recovery, thus supporting the lower authorities' rulings. en-us Tue, 13 Jan 2015 00:00:00 +0530 Mon, 26 Feb 2024 18:11:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312586 The HC dismissed the Revenue's appeal, affirming the Tribunal's decision that 'lease equalization charges' do not qualify as a reserve under Explanation (b) to Section 115JA(2) of the IT Act. The court agreed with the assessee, stating these charges are not reserves but represent differences in statutory depreciation and capital cost recovery, thus supporting the lower authorities' rulings. Case-Laws Income Tax Tue, 13 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312586