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The Commissioner of Income Tax Versus M/s Escorts Finance Ltd.

Depreciation on the assets - AO had treated the transactions as that of finance and not of leasing - Held that:- All relevant judgment in issue were considered in ICDS (2013 (1) TMI 344 - SUPREME COURT ), this Court is of the opinion that there is no .....

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harma, JJ. For the Appellant : Sh. Dileep Shivpuri, Sr. Standing Counsel with Sh. Sanjay Kumar, Jr. Standing Counsel For the Respondent : Sh. Simran Mehta, Advocate ORDER The question of law framed in this appeal is whether the Tribunal was justified .....

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d claimed depreciation in AY 1995-96. During the assessment, the AO denied the depreciation holding that since the assessee was not using the assets but rather it leased it out after acquisition, it could be called a financed asset and not leasing an .....

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lings for other years, notably AY 1996-97 and AY 1997-98. At the outset, it is pointed out that the decisions for the subsequent years on identical points, i.e. AY 1996-97 and AY 1997-98 were the subject matter of an appeal before this Court, i.e. Th .....

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350 ITR 527 as well as Asea Brown Boveri Ltd. v. Industrial Finance Corporation of India and Ors. 2005 (126) Comp. Case 332. Learned counsel for the revenue urges that there is another line of reasoning enunciated by the Supreme Court in Mysore Mine .....

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