NBFC financing ‘Fastway’ for purchase of STBs was loan though title of asset was retained by NBFC as security

INCOME TAX : Where assessee, a channel broadcaster, entered into arrangement termed as lease agreement with NBFC for purchasing STBs wherein lessor-NBFC had only to finance purchase with assessee-lessee selecting STBs, using for STBs life-time, paying back entire cost over lease tenure, exercising all ownership rights and bearing risks and lessee had no option to terminate lease or return asset before end of lease term, such arrangement was neither lease, nor hire purchase agreement, but loan/fi

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000194511/nbfc-financing-‘fastway’-for-purchase-of-stbs-was-loan-though-title-of-asset-was-retained-by-nbfc-as-security.aspx