https://www.taxtmi.com/caselaws?id=180671 The Gujarat High Court dismissed the Tax Appeals, upholding the principle that an assessee can claim depreciation on assets involved in lease transactions, even if they are not the end-users of those assets, as long as the assets are used in the course of the leasing business. The Court emphasized judicial consistency and ruled that the transactions were not sham or bogus, following previous judgments and legal principles. en-us Mon, 17 Feb 2014 00:00:00 +0530 Thu, 31 Mar 2016 10:50:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180671 The Gujarat High Court dismissed the Tax Appeals, upholding the principle that an assessee can claim depreciation on assets involved in lease transactions, even if they are not the end-users of those assets, as long as the assets are used in the course of the leasing business. The Court emphasized judicial consistency and ruled that the transactions were not sham or bogus, following previous judgments and legal principles. Case-Laws Income Tax Mon, 17 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180671