Addition on account of lump-sum lease charges received - lease ...

Lump-sum lease charges contested; lease rentals recognized over term. Accounting method upheld, no tax avoidance found.

May 5, 2016

Case Laws Income Tax AT

Addition on account of lump-sum lease charges received - lease transaction does not give an absolute ownership or title as it can be cancelled and re-entered - assessee has been consistently following the accounting policy of recognizing the lease rental proportionate to the lease period and therefore the consistent accounting method followed by the assessee for a considerable long time cannot be disturbed when there is nothing on record to suggest that the accounting method followed by the assessee resulted avoidance of tax - addition deleted - AT

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Addition on account of lump-sum lease charges received - lease ...

Lump-sum lease charges contested; lease rentals recognized over term. Accounting method upheld, no tax avoidance found.

May 5, 2016

Case Laws Income Tax AT

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