High Court upholds Tribunal decision on lease equipment transactions, dismisses tax evasion claims

The Bombay High Court affirmed the Tribunal's ruling that buyback of lease equipment and leasing to boards were genuine transactions, not aimed at tax evasion. The Court found no evidence of collusion with the statutory body, dismissing any legal concerns.

---

---

The Bombay High Court upheld the Tribunal's decision that buy back of lease equipments and granting lease to boards were not sham transactions for tax evasion purposes. The Tribunal found no collusion when dealing with a statutory body, leading to the dismissal of any legal questions.

---