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2008 (8) TMI 127 - HC - Income TaxAddition on account that assessee sold land as per sale-deeds at a low price - in absence of evidence on record, higher price for sale of land cannot be presumed – so additions were rightly deleted by tribunal – in respect of depreciation on tankers, when tankers were duly registered, insured and given on lease and diesel was filled, assessing authority was not right in holding that tankers were neither given on lease nor put in use – so, ITAT was right in allowing depreciation on said tankers
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