https://www.taxtmi.com/caselaws?id=241178 Final block assessment findings accepting lease and buy-back transactions as disclosed and genuine preclude revision of regular assessments on the same allegations without independent material. Where those findings had become final, the premise that deductions for margin money, hire management fee and depreciation arose from sham or bogus transactions could not establish that the regular assessments were erroneous and prejudicial to Revenue interests. Section 263 jurisdiction therefore could not be invoked to deny those deductions and depreciation, and the revisional order was unsustainable. en-us Tue, 03 Dec 2013 00:00:00 +0530 Fri, 31 Jan 2014 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241178 Final block assessment findings accepting lease and buy-back transactions as disclosed and genuine preclude revision of regular assessments on the same allegations without independent material. Where those findings had become final, the premise that deductions for margin money, hire management fee and depreciation arose from sham or bogus transactions could not establish that the regular assessments were erroneous and prejudicial to Revenue interests. Section 263 jurisdiction therefore could not be invoked to deny those deductions and depreciation, and the revisional order was unsustainable. Case-Laws Income Tax Tue, 03 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241178