Depreciation allowance - Assets leased by assessee
Last updated: 22 August 2007
Court :
ACIT
Brief :
Depreciation allowance - Assets leased by assessee
The assessee had purchased certain steel rollers from 'A' and leased them out to 'B'.On facts it was found by the CIT(A) and the Tribunal that purchase of rollers from 'A' and lease of these to 'B' was genuine. The assessee was entitled to 100 percent depreciation on these rollers.
Business expenditure - Licence fee for use of software
The licence fee paid for use of computer software was business expenditure
Citation :
ACIT vs Jasper Investments Ltd.
109 TTJ 530
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CA Nikita
Published in Income Tax
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