2011 (2) TMI 1604

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....t lease equalization charges of Rs. 77,19,523/- was allowed by the CIT(Appeals). 3. Assessee had given on lease medical equipments and vehicles to other hospitals in its group and in accordance with the Guidance Note on Accounting for leases issued by the Institute of Chartered Accountants of India (ICAI), claimed as Revenue expense, lease equalization charges of Rs. 77,19,523/-. Assessing Officer disallowed such claim on the ground that this was only a notional claim. Assessee moved in appeal before the CIT(Appeals) and placed reliance on the decision of a co-ordinate Bench of this Tribunal in its own case for assessment year 1999-2000 in I.T.A. No. 1516/Mds/2006. According to assessee, it was held by the Tribunal that lease equalizatio....

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.... 1,38,19,260/- paid to one M/s PCR Investments for agreeing to refrain from carrying on a competitive business. A.O. was of the opinion that such pmt was capital in nature and disallowed it. Assessee moved in appeal before the CIT(Appeals) and submitted that similar claim of the assessee, which was disallowed by the lower authorities, was accepted by this Tribunal in assessee's appeal for assessment year 1999-2000 in I.T.A. No. 1282/Mds/2006. Ld. CIT(Appeals) was appreciative of this contention and relying on the above Tribunal order in assessee's own case for assessment year 1999-2000, deleted the disallowance. 10. Now, before us, the learned D.R. assailing the order of the CIT(Appeals) submitted that the decision of Tribunal in I.T.A. ....