https://www.taxtmi.com/caselaws?id=186846 The tribunal rectified its order to allow the depreciation claim on assets given under sale and lease back agreements, aligning with a Supreme Court ruling that lessors are eligible to claim depreciation even in finance leases. The tribunal acknowledged the inconsistency in its previous decision and directed the Assessing Officer to grant the depreciation claim while withdrawing any corresponding benefit given to the assessee. This decision was based on legal precedent set by the Supreme Court and the tribunal's recognition of the lessor's entitlement to claim depreciation. en-us Wed, 30 Apr 2014 00:00:00 +0530 Mon, 03 Oct 2016 10:23:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186846 The tribunal rectified its order to allow the depreciation claim on assets given under sale and lease back agreements, aligning with a Supreme Court ruling that lessors are eligible to claim depreciation even in finance leases. The tribunal acknowledged the inconsistency in its previous decision and directed the Assessing Officer to grant the depreciation claim while withdrawing any corresponding benefit given to the assessee. This decision was based on legal precedent set by the Supreme Court and the tribunal's recognition of the lessor's entitlement to claim depreciation. Case-Laws Income Tax Wed, 30 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186846