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Taxpayer Retains Boiler Ownership, Eligible for Depreciation Benefits on Leased Asset Used in Business Operations.

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....Depreciation on boiler leased back - ownership of the impugned asset was with the assessee and the same was used for the purpose of business of leasing carried on by the assessee; under these circumstances the assessee was entitled for the benefit of depreciation - AT....

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Taxpayer Retains Boiler Ownership, Eligible for Depreciation Benefits on Leased Asset Used in Business Operations.