The Supreme Court rejected the appeal due to unexplained delay, leaving the High Court ruling intact. The decision confirms that depreciation is allowable where leased assets are used in business.
The court held that leased assets qualify for depreciation since they are used in the course of business. It clarified that physical use by the assessee is not required if leasing generates business income.
A practical guide on common mistakes that lead to rejection of subsidy claims in India, covering planning, compliance, documentation, and timelines.
ICAI released complete schedule for Foundation, Intermediate, and Final exams along with application deadlines and fees. The announcement outlines exam dates, centres, and key instructions for candidates.
