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2014 (7) TMI 1216 - AT - Income TaxDepreciation on 'vehicles given on finance lease’ - Held that:- The assessments in the instant case are accordingly directed to be completed by the A.O., i.e., qua the issue of sale and lease back of the assets under reference, in light of and following the decision by the apex court in the case of ICDS Ltd. (2013 (1) TMI 344 - SUPREME COURT) which represents the law of the land stating assessee entitled to claim depreciation in respect of additions made to assets which were leased out. Further, the A.O. shall also, make the consequential adjustments, so that, while allowing due relief, double benefit is not extended to the assessee, even as cautioned by the tribunal in its own case for the earlier years, cited supra.
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