https://www.taxtmi.com/caselaws?id=190421 The High Court of Madhya Pradesh dismissed the Revenue's application under s. 256(2) of the IT Act, 1961. The dispute centered on depreciation claimed on a boiler bought from a sister-concern and leased back. The AO disallowed the claim, but the CIT(A) and Tribunal sided with the assessee, finding no tax avoidance scheme. The High Court found no legal issues and upheld the lower rulings. en-us Mon, 15 Sep 1997 00:00:00 +0530 Tue, 14 Feb 2017 18:46:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190421 The High Court of Madhya Pradesh dismissed the Revenue's application under s. 256(2) of the IT Act, 1961. The dispute centered on depreciation claimed on a boiler bought from a sister-concern and leased back. The AO disallowed the claim, but the CIT(A) and Tribunal sided with the assessee, finding no tax avoidance scheme. The High Court found no legal issues and upheld the lower rulings. Case-Laws Income Tax Mon, 15 Sep 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190421