https://www.taxtmi.com/caselaws?id=221896 The Court held in favor of the assessee regarding the allowability of depreciation on Plant and Machinery in a sale and lease back transaction, citing previous judgments and emphasizing the transaction's genuineness. The Court dismissed the appeal, stating no substantial question of law arose. In the case of depreciation on motor buses leased to Ahmedabad Municipal Transport Services, the Court did not delve into the issue due to the insignificant amount involved and dismissed the Tax Appeal without providing separate reasons. en-us Tue, 31 Jan 2012 00:00:00 +0530 Thu, 04 Apr 2013 22:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221896 The Court held in favor of the assessee regarding the allowability of depreciation on Plant and Machinery in a sale and lease back transaction, citing previous judgments and emphasizing the transaction's genuineness. The Court dismissed the appeal, stating no substantial question of law arose. In the case of depreciation on motor buses leased to Ahmedabad Municipal Transport Services, the Court did not delve into the issue due to the insignificant amount involved and dismissed the Tax Appeal without providing separate reasons. Case-Laws Income Tax Tue, 31 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221896