2010 (4) TMI 759

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....order of the Income-tax Appellate Tribunal dated 13-8-2009 passed in ITA No. 2324/Del/2009 relating to the assessment year 2006-07. The issue before the Tribunal was whether the car lease rentals were covered under section 194-I or under section 194C of the Income-tax Act, 1961 (hereinafter referred to as 'the said Act'). 2. The Assessing Officer held that the said payments were in relation to ....

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....lessor was not responsible in any manner for carrying passengers or goods and, therefore, the agreement could not be said to be a contract for carrying of goods or passengers as envisaged in clause (c) of Explanation III to section 194C. 3. Before the Tribunal also, the revenue was unable to dispute the fact that the vehicles in question were given on lease and that they did not carry any respo....