Question ID : 1251

Depreciation on Assets taken on lease

Date : 04,01,2006

DEPRECIATION ON ASSETS TAKEN ON LEASE :

Q. If the Assessee has taken the assets on lease and the Lessor has not cimed the depreciation on the Assets which has been given by him on lease that case the Lessee can cimed the Depreciation u,s.32, what will be the cost of the assets for providg depreciation .and which rate will be apply to cimed the Depreciation .

If the lessee is cmg lease rental as expenses agast the revenue that case he can also cimed the Depreciation. Because as per my view that the Assessee can cimed the only one deductions either the assessee can cimed the Depreciation or can cimed the lease rental charges or If there is any provisions to cimed the Depreciation as well as lease rental charges please crify and also provide any recent judgement if any .



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