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2011 (8) TMI 1196 - AT - Income TaxExtract: ....... owner of the machinery and it shall be entitled to depreciation thereon. The fact that the sister concern has offered the lease rental as income cannot be the only factor to allow the lease rentals in the hands of the assessee. 9. In the result, the appeal of the assessee is dismissed. Order pronounced in the open court on the 5th of August, 2011.
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