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TMI Blog2013 (10) TMI 878X X X X Extracts X X X X X X X X Extracts X X X X ..... on account of enhancement of lease rental - section 37(1) - Held that:- the finding of fact recorded by the Tribunal is that the variation in the lease rental was made on account of increase in the lease deposit. This variation was held to be based on commercial consideration. Thus, the conclusion of the CIT(A) in that regard was upheld. - Decided against the revenue. - Income Tax Appeal No. 452 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esent appeal is regarding the true scope and correct interpretation of Section 43(2) and other provisions of the Income Tax Act, 1961 and whether on the facts and circumstances of the case and in law the Tribunal is right in dismissing the appeal of the revenue and allowing the loss on re-valuation of foreign currency ? c) The third substantial question of law arises in the present appeal is reg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e's appeal with regard to the assessment year 1997-98 has been dismissed by this Court on account of non removal of office objections and an S.L.P. before the Apex Court is pending. Since the Tribunal has followed the earlier year assessment order and the appeal against it stands dismissed, we see no reason to entertain question (a). 3. So far as question (b) is concerned, the Tribunal has relie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ded by the Tribunal is that the variation in the lease rental was made on account of increase in the lease deposit. This variation was held to be based on commercial consideration. Thus, the conclusion of the CIT(A) in that regard was upheld. In these circumstances, question (d) as formulated is not being entertained. Accordingly, the appeal is dismissed with no order as to costs. - - TaxTMI - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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