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2021 (2) TMI 266 - AT - Income TaxDisallowance of the depreciation on the bogus purchase of machinery - HELD THAT:- As decided in assessee's own case equipment financed by Bank of Maharashtra cannot be summarily treated as bogus. The AO has not made any inquiry from the bank in this regard. The disallowance of depreciation in respect of equipment purchased financed by Bank of Maharashtra is not warranted. The disallowance of depreciation was deleted. - Decided in favour of assessee.
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