https://www.taxtmi.com/article/detailed?id=6608 Failure to furnish ownership proof, asset particulars and the previous owner's written down value in a sale-and-leaseback led authorities to treat the transaction as a sham and deny depreciation; a valuation report produced later was superfluous and harmful because it confirmed embedded, immovable nature of the plant. The case highlights that direct documentary evidence of transfer, invoices, installation details and prior depreciation/WDV confirmations is operative for establishing genuineness and entitlement to depreciation. en-us Thu, 31 Dec 2015 10:25:59 +0530 Thu, 31 Dec 2015 10:25:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6608 Failure to furnish ownership proof, asset particulars and the previous owner's written down value in a sale-and-leaseback led authorities to treat the transaction as a sham and deny depreciation; a valuation report produced later was superfluous and harmful because it confirmed embedded, immovable nature of the plant. The case highlights that direct documentary evidence of transfer, invoices, installation details and prior depreciation/WDV confirmations is operative for establishing genuineness and entitlement to depreciation. Articles Income Tax Thu, 31 Dec 2015 10:25:59 +0530 https://www.taxtmi.com/article/detailed?id=6608