2019 (10) TMI 609 - SCH - Income Tax

Disallowance of depreciation on leased assets though the assessee could not substantiate its claim and also could not substantiate the existence of assets on which such depreciation was claimed - Revenue has contested the claim of the assessee of depreciation Crores on the leased assets on the ground that transactions was not genuine - HELD THAT - Special leave petition is dismissed. As a sequel to the above, pending interlocutory applications, if any, stand disposed of.

Summary

The Supreme Court of India dismissed the special leave petition after condoning the delay. Pending interlocutory applications were disposed of accordingly.