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2009 (3) TMI 91 - BOMBAY HIGH COURTDepreciation - Business of leasing – Leased equipment - contention of the assessee that the breakers were given on lease before the end of previous year and therefore, the same should be considered as “used” for the purpose of business - Assessee, admittedly had supplied the machinery before the end of the financial year and the assessee had received the lease rentals for the same. The fact whether the lessee had put to use the leased equipment would be irrelevant – revenue’s appeal dismissed – Tribunal is right in allowing the assesses claim of deprecation
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