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2008 (9) TMI 488 - HC - Income TaxDepreciation - “Whether the Appellate Tribunal is right in law and on facts in confirming the order of the Commissioner of Income-tax (Appeals) in deleting the disallowance of depreciation of Rs. 1,18,10,500 made on account of excess depreciation ?” - both the Commissioner (Appeals) and the Tribunal have concurrently found that ownership of assets in the hands of the assessee-lessor is not disputed and delivery of assets on September 30, 1996, is also not disputed. In so far as usage of assets is concerned, it has been held that there was no evidence to justify that assets were not put to use. – no any legal infirmity in the impugned order of the Tribunal - No question of law, much less a substantial question of law, as proposed or otherwise arises from the impugned order of the Tribunal. The appeal is accordingly dismissed. – Held that assessee is entitled to depreciation
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