2013 (3) TMI 244

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... of common order dated 22.12.2006 as passed by the Income Tax Appellate Tribunal, Jodhur Bench, Jodhpur affirming the concerning orders as passed by the Commissioner of Income Tax (Appeals), Udaipur in respect of appeals relating to the assessment years 1996-1997 and 2001-2002, have been admitted on identical nature substantial questions of law with only difference as regards the amount involved. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ing the substantial finding given by the AO that lease agreement is that of a financing one and not the operational, treat the costs of the leased assets as loan amount and lease rental as interest?" This appeal be connected with the files aforesaid D.B.I.T.A. No.23/2005 and 54/2007." In Appeal No.154/2007, concerning the assessment year 2001-2002, the question is similar one except the amount i .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... al, allowing lease rental as business expenditure, not calling for any interference. The considerations, reasonings and observations in the judgment delivered in Appeal No.54/2007 equally apply to the present cases too. Therein, we have ultimately held as under:- "In the ultimate analysis, in the present case where the respondent assessee has been found to be essentially a hirer after appreciati .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X