https://www.taxtmi.com/caselaws?id=186886 The Tribunal dismissed both appeals filed by the assessee, upholding the disallowance of depreciation on assets given under 'sale and lease back basis' and on motor cars given on finance lease. Relying on precedent and the principle that in finance lease transactions, the lessee is entitled to depreciation as the real owner of the asset, the Tribunal upheld the CIT(A)'s orders for the relevant assessment years. The judgment was pronounced on 12th November 2012. en-us Mon, 12 Nov 2012 00:00:00 +0530 Tue, 04 Oct 2016 10:41:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186886 The Tribunal dismissed both appeals filed by the assessee, upholding the disallowance of depreciation on assets given under 'sale and lease back basis' and on motor cars given on finance lease. Relying on precedent and the principle that in finance lease transactions, the lessee is entitled to depreciation as the real owner of the asset, the Tribunal upheld the CIT(A)'s orders for the relevant assessment years. The judgment was pronounced on 12th November 2012. Case-Laws Income Tax Mon, 12 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186886