https://www.taxtmi.com/highlights?id=31362 Penalty u/s 271(1)(c) - Claim of depreciation on financed leased assets - AO while disallowing the claim of depreciation has not considered the exclusion of the principle component of the lease rental clearly shows that the penal provisions of Section 271(1)(c) of the Act cannot be attracted in this case - AT en-us Fri, 23 Sep 2016 12:22:18 +0530 Fri, 23 Sep 2016 12:22:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=31362 Penalty u/s 271(1)(c) - Claim of depreciation on financed leased assets - AO while disallowing the claim of depreciation has not considered the exclusion of the principle component of the lease rental clearly shows that the penal provisions of Section 271(1)(c) of the Act cannot be attracted in this case - AT Highlights Income Tax Fri, 23 Sep 2016 12:22:18 +0530 https://www.taxtmi.com/highlights?id=31362