https://www.taxtmi.com/caselaws?id=293185 Depreciation under section 32 on leased wind turbine generators requires the assessee to prove ownership, installation and the genuineness of the lease transaction with cogent evidence. Here, the assessee failed to produce the primary lease deed, title documents or reliable secondary material to establish exclusive ownership, receipt of lease rentals or the true nature of the arrangement. On the seized records and surrounding circumstances, the court drew an adverse inference, accepted the Assessing Officer's findings and restored the block assessment order, setting aside the contrary appellate view. en-us Tue, 18 Sep 2007 00:00:00 +0530 Wed, 03 Feb 2021 10:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293185 Depreciation under section 32 on leased wind turbine generators requires the assessee to prove ownership, installation and the genuineness of the lease transaction with cogent evidence. Here, the assessee failed to produce the primary lease deed, title documents or reliable secondary material to establish exclusive ownership, receipt of lease rentals or the true nature of the arrangement. On the seized records and surrounding circumstances, the court drew an adverse inference, accepted the Assessing Officer's findings and restored the block assessment order, setting aside the contrary appellate view. Case-Laws Income Tax Tue, 18 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293185