https://www.taxtmi.com/caselaws?id=347976 HC upheld the Tribunal's findings that the sale-and-leaseback of a boiler was a genuine business transaction and not a colourable device to avoid tax; depreciation claimed and resultant rental income were properly taxed, and the arrangement could not be impugned as dubious. The HC also agreed that technical know-how fees constituted allowable revenue expenditure because they upgraded existing technology and equipment rather than creating a new enduring capital asset. Revenue appeal dismissed. en-us Mon, 28 Aug 2017 00:00:00 +0530 Thu, 18 Sep 2025 15:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347976 HC upheld the Tribunal's findings that the sale-and-leaseback of a boiler was a genuine business transaction and not a colourable device to avoid tax; depreciation claimed and resultant rental income were properly taxed, and the arrangement could not be impugned as dubious. The HC also agreed that technical know-how fees constituted allowable revenue expenditure because they upgraded existing technology and equipment rather than creating a new enduring capital asset. Revenue appeal dismissed. Case-Laws Income Tax Mon, 28 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347976