High Court Upholds ITAT Ruling: Depreciation Claim on Leased Boiler Valid, Not a Tax Avoidance Scheme.

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....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....