https://www.taxtmi.com/caselaws?id=788534 Lease rentals were disallowed where the alleged sale-and-leaseback of computers lacked a completed transfer of ownership. The computers remained at the seller-lessee's premises under the lease arrangement, and no transfer to the purchaser was established. This did not satisfy the requirements for a completed sale under the Transfer of Property Act and supported treating the arrangement as a paper transaction rather than a genuine lease. The Supreme Court dismissed the appeal, leaving the High Court's conclusion that the lease rentals were not deductible undisturbed. en-us Wed, 11 Mar 2026 00:00:00 +0530 Tue, 24 Mar 2026 08:12:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788534 Lease rentals were disallowed where the alleged sale-and-leaseback of computers lacked a completed transfer of ownership. The computers remained at the seller-lessee's premises under the lease arrangement, and no transfer to the purchaser was established. This did not satisfy the requirements for a completed sale under the Transfer of Property Act and supported treating the arrangement as a paper transaction rather than a genuine lease. The Supreme Court dismissed the appeal, leaving the High Court's conclusion that the lease rentals were not deductible undisturbed. Case-Laws Income Tax Wed, 11 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788534