2012 (5) TMI 729

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..... c owner of the asset, whereas the real owner who bears all the risks and rewards incidental to the ownership is the lessee. It has thus been held that it is only the lessee who is the actual and real owner of the asset in case of a finance lease, who is eventually entitled to depreciation and not the lessor. In view of the foregoing reasons, we are of the considered opinion that the ld. CIT(A) was .....

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..... vant material on record. It is fairly conceded by both sides that the question raised in these appeals is covered by the order of the Special Bench in the case of M/s. IndusInd Bank Ltd. vs. Addl. CIT passed by the Tribunal on 14-03-2012. From the order sheet notings, it is observed that the assessee sought adjournment firstly on 21- 03-2011 later on 07-09-2011 and then on 22.12.2011 stating that .....

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