Lessor entitled to Claim Depreciation on  Leased Assets under Finance Lease: ITAT [Read Order]

Lessor - Depreciation - Leased Assets under Finance Lease - Depreciation on Leased Assets - ITAT - taxscan

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that the lessor should be entitled to claim depreciation on leased assets under finance lease. T Kipgen, counsel appeared for the revenue. Rohit Jain, counsel appeared for assessee.  Assessee Religare Finvest Ltd.e–filed its return of income for the assessment year 2011-12 declaring income…

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