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2015 (3) TMI 1219 - AT - Income TaxPenalty u/s.271(1)(c) - disallowance of depreciation in respect of assets given under ‘sale and lease back basis’ - Held that:- As decided in case of ICDS Ltd [2013 (1) TMI 344 - SUPREME COURT] assessee is entitled to claim depreciation in respect of additions made to the assets which were leased out. Thus as addition itself has been deleted by the Tribunal, we do not find any justification in levy of concealment penalty - Decided in favour of assessee
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