https://www.taxtmi.com/caselaws?id=70299 The Tribunal upheld the disallowance of depreciation in various cases involving sale and leaseback transactions, straight lease transactions, and mortgage transactions. It emphasized the lack of credible evidence, the financial nature of the transactions, and the dubious nature of the suppliers. The issue concerning a straight lease transaction with M/s Carews Pharmaceuticals was remitted to the AO for verification. The assessee's appeal was partly allowed for statistical purposes. en-us Tue, 22 Feb 2005 00:00:00 +0530 Mon, 25 Jun 2012 13:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70299 The Tribunal upheld the disallowance of depreciation in various cases involving sale and leaseback transactions, straight lease transactions, and mortgage transactions. It emphasized the lack of credible evidence, the financial nature of the transactions, and the dubious nature of the suppliers. The issue concerning a straight lease transaction with M/s Carews Pharmaceuticals was remitted to the AO for verification. The assessee's appeal was partly allowed for statistical purposes. Case-Laws Income Tax Tue, 22 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70299