https://www.taxtmi.com/caselaws?id=34901 Leased workers' quarters constructed by the assessee were treated as having a continuing business nexus because the lease income was assessed as business income; on that basis, depreciation under section 32(1)(iv) remained available even though the quarters were not occupied by the assessee's own workers. For plant and machinery leased out by the assessee, investment allowance under section 32A was considered admissible where leasing formed part of the assessee's business activity and the assets were used for the purposes of that business. The note treats leasing as a business incident capable of satisfying the statutory use requirement when the income is business income. en-us Wed, 04 Nov 2009 00:00:00 +0530 Wed, 01 Sep 2010 16:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34901 Leased workers' quarters constructed by the assessee were treated as having a continuing business nexus because the lease income was assessed as business income; on that basis, depreciation under section 32(1)(iv) remained available even though the quarters were not occupied by the assessee's own workers. For plant and machinery leased out by the assessee, investment allowance under section 32A was considered admissible where leasing formed part of the assessee's business activity and the assets were used for the purposes of that business. The note treats leasing as a business incident capable of satisfying the statutory use requirement when the income is business income. Case-Laws Income Tax Wed, 04 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34901