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2013 (9) TMI 612 - AT - Income TaxRectification of mistake u/s 154 - Simultaneous taxability of addition on account of non-allowability of deduction u/s 32AB and lease rental – Held that:- Assessee claim of deduction u/s 32AB made in the original return with consequential lease rental income - Machineries, subject matter of the lease transactions were not purchased by the lessees and the claim of deduction u/s 32AB was surrendered by the assessee by a revised return along with reduction on non- accrued rental income - Withdrawal of deduction u/s 32AB has a direct consequence on the non- earning of lease rental – Thus, withdrawal of deduction u/s 32AB and taxation of lease rental cannot be taxed together – Decided against the Revenue.
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