Bombay High Court Allows Revenue Appeal in Income Tax Case on Lease Rental Deduction for Idle Machinery. Business decision to keep dozers idle and pay lease rentals without use held not allowable as expenditure under Section 37(1) of Income Tax Act, 1961.
29 Sep 2010The Revenue appealed against the order of the Income Tax Appellate Tribunal (ITAT) which had allowed the assessee's claim for deduction of lease renta...




