https://www.taxtmi.com/caselaws?id=177761 The High Court of Gujarat upheld the decisions of the CIT(Appeals) and the tribunal, dismissing the tax appeal as no substantial question of law was found to arise from the issues discussed. The court confirmed the genuineness of the lease and buy-back transaction of energy meters, allowed the interest paid on capital borrowed for projects as a deduction, and held that enhancing income by depreciation on leased assets without giving an opportunity to the Assessing Officer was permissible. en-us Mon, 01 Aug 2011 00:00:00 +0530 Mon, 18 Jan 2016 14:47:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177761 The High Court of Gujarat upheld the decisions of the CIT(Appeals) and the tribunal, dismissing the tax appeal as no substantial question of law was found to arise from the issues discussed. The court confirmed the genuineness of the lease and buy-back transaction of energy meters, allowed the interest paid on capital borrowed for projects as a deduction, and held that enhancing income by depreciation on leased assets without giving an opportunity to the Assessing Officer was permissible. Case-Laws Income Tax Mon, 01 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177761