https://www.taxtmi.com/caselaws?id=17616 The court dismissed the assessee's claim for depreciation on computers purchased and leased, as the transactions lacked genuineness and evidence of actual sale, with common management between the involved parties further casting doubt on the validity of the dealings. The Tribunal's decision was upheld, denying the depreciation claim under section 32 of the Income-tax Act due to the absence of valid consideration and failure to establish the passing of title to the assessee, resulting in the denial of the claimed amount of Rs. 37,69,273. en-us Mon, 04 Nov 1996 00:00:00 +0530 Wed, 23 Sep 2009 16:20:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17616 The court dismissed the assessee's claim for depreciation on computers purchased and leased, as the transactions lacked genuineness and evidence of actual sale, with common management between the involved parties further casting doubt on the validity of the dealings. The Tribunal's decision was upheld, denying the depreciation claim under section 32 of the Income-tax Act due to the absence of valid consideration and failure to establish the passing of title to the assessee, resulting in the denial of the claimed amount of Rs. 37,69,273. Case-Laws Income Tax Mon, 04 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17616