Case of CIT vs Tata Motors Ltd, SC Judgement Dated 10th May 2026. The principal issue was whether depreciation could be allowed where leased assets were used by lessees but ownership remained with the assessee. The apex court had clarified that where the business of the assessee consists of leasing or hiring assets, income from such leasing constitutes business income and the leased assets are regarded as used for the purposes of business. It emphasized that actual physical use by the assessee is not mandatory.