https://www.taxtmi.com/caselaws?id=186849 The concealment penalty related to the disallowance of depreciation on assets given under sale and lease back basis was at issue in this case. The Tribunal, after rectifying its previous order following the Supreme Court's decision, allowed the claim for depreciation and withdrew any corresponding benefit given to the assessee. As the disallowance had already been deleted by the Tribunal, it found no justification for the concealment penalty and accordingly deleted it. Consequently, all appeals filed by the assessee were allowed, emphasizing the Tribunal's adherence to the Supreme Court's decision on the matter. en-us Thu, 19 Mar 2015 00:00:00 +0530 Mon, 03 Oct 2016 18:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186849 The concealment penalty related to the disallowance of depreciation on assets given under sale and lease back basis was at issue in this case. The Tribunal, after rectifying its previous order following the Supreme Court's decision, allowed the claim for depreciation and withdrew any corresponding benefit given to the assessee. As the disallowance had already been deleted by the Tribunal, it found no justification for the concealment penalty and accordingly deleted it. Consequently, all appeals filed by the assessee were allowed, emphasizing the Tribunal's adherence to the Supreme Court's decision on the matter. Case-Laws Income Tax Thu, 19 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186849