https://www.taxtmi.com/caselaws?id=34901 Depreciation on workers' quarters leased with plant may remain available where the lease income is assessed as business income and the quarters retain a business nexus, even if they are not occupied by the assessee's own workers. Investment allowance on leased plant and machinery may also be available where the assessee owns the assets, they fall within the prescribed category, and leasing forms part of its business activity. In these circumstances, leased assets generating business income are treated as used for the purposes of the assessee's business for depreciation and investment allowance claims. 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 Depreciation on workers' quarters leased with plant may remain available where the lease income is assessed as business income and the quarters retain a business nexus, even if they are not occupied by the assessee's own workers. Investment allowance on leased plant and machinery may also be available where the assessee owns the assets, they fall within the prescribed category, and leasing forms part of its business activity. In these circumstances, leased assets generating business income are treated as used for the purposes of the assessee's business for depreciation and investment allowance claims. Case-Laws Income Tax Wed, 04 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34901