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Asset ownership

This query is : Resolved 
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(Querist)
03 August 2015 if asset is kept with an entity but has no legal right over it. Then is asset to be shown in the books of accounts or not of entity keeping it.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
03 August 2015 No it can't be shown in the books.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
03 August 2015 asset owned legally by the co ony can be shown as assets of co in bal sheet
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