https://www.taxtmi.com/highlights?id=13967 Depreciation on lease assets given to Konkan Railway Corporation Ltd - the transaction in question is finance lease and not operating lease. - no depreciation on asset will be allowed – Rental income from the lease will not be considered as income of the assessee for the income tax purpose and only the finance interest portion will be considered as income of the Assessee. - AT en-us Mon, 19 Aug 2013 09:03:13 +0530 Mon, 19 Aug 2013 09:03:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=13967 Depreciation on lease assets given to Konkan Railway Corporation Ltd - the transaction in question is finance lease and not operating lease. - no depreciation on asset will be allowed – Rental income from the lease will not be considered as income of the assessee for the income tax purpose and only the finance interest portion will be considered as income of the Assessee. - AT Highlights Income Tax Mon, 19 Aug 2013 09:03:13 +0530 https://www.taxtmi.com/highlights?id=13967