Tax Planning vs. Avoidance: Importance of Intent in Sale and Leaseback Transactions for Depreciation Claims.

Tax Planning versus Tax Avoidance - Finance Lease / Operating lease - No straight jacket formula can be adopted to say that every case of sale and lease back transactions is sham or genuine - real intention was to enter into transaction of loan/finance only and the assessee was never intended to be the real and legal owner of the assets – Depreciation not allowed - AT .....

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