https://www.taxtmi.com/caselaws?id=174794 The Tribunal and lower authorities upheld the disallowance of depreciation claims in various sale and lease back and direct lease transactions due to lack of evidence proving the genuineness of the transactions. The parties failed to establish the traceability of suppliers, delivery, and installation of leased assets. The Tribunal confirmed the disallowance of depreciation, concluding that the transactions were financial in nature rather than genuine leases. The appeal was dismissed, affirming the Tribunal's decision. en-us Thu, 13 Sep 2012 00:00:00 +0530 Thu, 25 Jan 2018 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174794 The Tribunal and lower authorities upheld the disallowance of depreciation claims in various sale and lease back and direct lease transactions due to lack of evidence proving the genuineness of the transactions. The parties failed to establish the traceability of suppliers, delivery, and installation of leased assets. The Tribunal confirmed the disallowance of depreciation, concluding that the transactions were financial in nature rather than genuine leases. The appeal was dismissed, affirming the Tribunal's decision. Case-Laws Income Tax Thu, 13 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174794