https://www.taxtmi.com/caselaws?id=368164 The court affirmed the CIT(A)'s order partially, dismissing the Revenue's appeal regarding the validity of depreciation claims for lease assets. The court upheld the acceptance of lease transactions, except for instances where the supplier and lessee were the same entity. It emphasized the need to conclude the prolonged litigation, directing the AO to allow the assessee's claim without additional verification. The CO filed by the assessee was deemed infructuous and dismissed, ultimately sustaining the CIT(A)'s decision. en-us Fri, 28 Sep 2018 00:00:00 +0530 Wed, 03 Oct 2018 08:22:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368164 The court affirmed the CIT(A)'s order partially, dismissing the Revenue's appeal regarding the validity of depreciation claims for lease assets. The court upheld the acceptance of lease transactions, except for instances where the supplier and lessee were the same entity. It emphasized the need to conclude the prolonged litigation, directing the AO to allow the assessee's claim without additional verification. The CO filed by the assessee was deemed infructuous and dismissed, ultimately sustaining the CIT(A)'s decision. Case-Laws Income Tax Fri, 28 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368164