https://www.taxtmi.com/highlights?id=36293 Depreciation on boiler leased by the assessee - AO termed this as a colourable device to avoid tax - ITAT allowed claim - If it was not a bona fide business transaction, the assessee, after claiming benefit of depreciation in one year, could not have subjected itself to tax on the income arising from that very transaction - HC en-us Thu, 14 Sep 2017 08:08:17 +0530 Thu, 14 Sep 2017 08:08:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=36293 Depreciation on boiler leased by the assessee - AO termed this as a colourable device to avoid tax - ITAT allowed claim - If it was not a bona fide business transaction, the assessee, after claiming benefit of depreciation in one year, could not have subjected itself to tax on the income arising from that very transaction - HC Highlights Income Tax Thu, 14 Sep 2017 08:08:17 +0530 https://www.taxtmi.com/highlights?id=36293