https://www.taxtmi.com/caselaws?id=468063 Consistent acceptance of an income-tax computation in earlier assessment years can justify upholding disallowance under section 14A read with Rule 8D when the facts remain unchanged. The commentary also notes that depreciation may be allowed on assets acquired under a finance lease where the assets form part of the block of assets and the assessee bears the economic burdens, including cost and insurance. On identical facts, the Tribunal followed prior years' treatment and allowed depreciation on the leased server, storage and accessories, while sustaining the 14A disallowance. The stated principle is that depreciation cannot be denied merely by disputing ownership in a later year absent any change in facts. en-us Tue, 21 Sep 2021 00:00:00 +0530 Wed, 15 Apr 2026 15:26:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468063 Consistent acceptance of an income-tax computation in earlier assessment years can justify upholding disallowance under section 14A read with Rule 8D when the facts remain unchanged. The commentary also notes that depreciation may be allowed on assets acquired under a finance lease where the assets form part of the block of assets and the assessee bears the economic burdens, including cost and insurance. On identical facts, the Tribunal followed prior years' treatment and allowed depreciation on the leased server, storage and accessories, while sustaining the 14A disallowance. The stated principle is that depreciation cannot be denied merely by disputing ownership in a later year absent any change in facts. Case-Laws Income Tax Tue, 21 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468063