Depreciation allowable on finance leased assets related to Business

DCIT Vs IFCI (ITAT Delhi)

Issue- On the facts and circumstances of the case, the Ld. CIT (A) has erred in deleting the disallowance made on depreciation of finance leased assets amounting to Rs. 1,31,63,444/- holding that it is one of the business of assessee.

Held- Depreciation of finance least assets is related to the business of the assessee and this factual aspect was not at all changed from the earlier year and subsequent years. Therefore, depreciation of finance leased assets amounti

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