https://www.taxtmi.com/caselaws?id=244357 The Tribunal concluded that the lease agreements were sham transactions as the assessee failed to establish their genuineness. It was found that the assets were not put to use before the specified date, disqualifying the assessee from claiming depreciation. Additionally, the amount received from DLWL was deemed income for completed work. The Tribunal upheld the Assessing Officer's decisions, dismissing the appeal as no substantial legal questions were identified to challenge the findings. en-us Wed, 12 Feb 2014 00:00:00 +0530 Mon, 24 Feb 2014 08:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244357 The Tribunal concluded that the lease agreements were sham transactions as the assessee failed to establish their genuineness. It was found that the assets were not put to use before the specified date, disqualifying the assessee from claiming depreciation. Additionally, the amount received from DLWL was deemed income for completed work. The Tribunal upheld the Assessing Officer's decisions, dismissing the appeal as no substantial legal questions were identified to challenge the findings. Case-Laws Income Tax Wed, 12 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244357