Depreciation on Finance Lease Rental Payment allowed to lessee: ITAT Mumbai

DCIT Vs NTT Global Data Centres Cloud Infrastructure India Pvt. Ltd. (ITAT Mumbai) ITAT Mumbai held that alternative claim of assessee (lessee) to allow depreciation on Finance Lease Rental Payment is allowable since lessor is allowed deduction of the same under section 37(1) of the Income Tax Act. Facts- The assessee is engaged in the business of providing remote infrastructure management, remote helpdesk, remote network monitoring services and other services for foreign customers. The present appeal has been preferred by the revenue. Notably, the only issue raised by the Revenue pertains to ...