The Silver Chair

Special Bench verdicts on Sale & Lease Back & lease finance are not good law

CLR Editorial Notes: In this case, the assessee, a Bank, had bought assets from a customers and had then leased it back to them under a sale and lease back agreement. It had also purchased assets which were identified by its customers and leased it to back to them under a finance lease agreement. The… Read More

Tags: BusinessCITDelDelhi High CourtDepreciationFinance leaseIndiaIndusInd BankLeasingMumbaiSale & Lease BackSupreme CourtThe Silver Chair

Restraining for engaging in same line of business for 7 years is capital in nature and amounts to a depreciable intangible asset under the IT Laws

CLR Editorial Notes: In the present case, the appellant is a joint-venture between M/s. Sharp & L&T. Apparently, the agreement entered into with the L&T in view of the changed relationship ensures that the latter does not enter into the same business. The High Court of Delhi has held that has held that undoubtedly, it… Read More

Tags: AppealCapital expenditureCITDelhi High CourtIncome taxIndiaSharp CorporationThe Silver Chair

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