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2019 (1) TMI 1647 - BOMBAY HIGH COURTDisallowance of depreciation on leased assets though the assessee could not substantiate its claim and also could not substantiate the existence of assets on which such depreciation was claimed - Revenue has contested the claim of the assessee of depreciation Crores on the leased assets on the ground that transactions was not genuine - HELD THAT:- Tribunal discussed the same at some length and noted that the Assessee had produced reliable documentary evidence by making the following observations Revenue authorities have failed to demonstrate that the claim of depreciation is bogus. The documentary evidences submitted by the assessee have not been rebutted by the - CIT(A). In the light of the decisions discussed herein above, and considering the fact that the matter pertains to A.Y. 1996-97, we failed to persuade ourselves to give one more opportunity to the Revenue as in our opinion that would cause unnecessary hardship on the assessee when the main Director has sine deceased. In the interest of justice and fair play, we set aside the order of the CIT(A) and direct the AO to delete the impugned addition made on account of the disallowance of depreciation. The entire issue is based on appreciation of facts on record. The findings are purely factual in nature.
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