TMI Blog2008 (9) TMI 126X X X X Extracts X X X X X X X X Extracts X X X X ..... t was genuine and allowed the depreciation – tribunal’s finding is a finding of fact – therefore, no question of law arise – revenue’s appeal dismissed - 444 of 2008 - - - Dated:- 10-9-2008 - D.A. MEHTA and BANKIM.N. MEHTA JJ. Mrs. M.M. Bhatt for the appellant. J.P. Shah and Manish J. Shah for the respondent. JUDGMENT The judgment of the court was delivered by D.A. MEHTA J.- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e machinery purchased during the year in the audited balance sheet. The original assessment was completed under section 143(3) on 30-3-98." 3. The case of the Appellant Revenue as projected by the learned Counsel for the Appellant is that on analysis of various clauses of the lease deed between the parties viz. respondent-assessee and Rajasthan State Electricity Board the transaction of lease ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e finding of fact recorded by the Tribunal that the assessee has shown the lease rent received from Rajasthan State Electricity Board as its business income. 5. In relation to the transaction, after referring to an earlier order of the Tribunal, the Tribunal in the present case has recorded the following findings: "10.9 Respectfully following the aforesaid case, we find that in the case befo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... disallowance of payment of lease rentals on the transaction of sale-cum-lease back agreement and Rajasthan High Court has found that the Tribunal had rightly appreciated the facts and correctly found the transaction to be genuine and such a finding could not be treated to be perverse. 7. Admittedly, the transaction in question which the High Court of Rajasthan was called upon to deal with is t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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