Disallowance of depreciation in respect of asset given on lease ...

Income Tax

December 23, 2022

Disallowance of depreciation in respect of asset given on lease - the lessee has been given only right to use the asset for the terms of the lease on payment of specified lease rent for a lease period of 10 years - the assessee is entitled for depreciation on the leased asset as per provisions of section 32(1) - CIT(A) after considering relevant facts has rightly deleted additions made by the AO towards disallowance of depreciation - AT

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Disallowance of depreciation in respect of asset given on lease ...

Income Tax

December 23, 2022

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