Leasing

Finance Lease Vs Operating Lease – Differences explained

CLR Editorial Notes: The Difference between Finance Lease and Operating Lease has been adequetely explained in this case and in the reference cases. The assessee, a bank, purchased a boiler and gave it on lease to Indo-Gulf Fertilisers. The assessee claimed depreciation on the said boiler on the basis that it was the owner thereof. The Assessing… Read More

Tags: Asea Brown BoveriBusinessDelhi High CourtFinance leaseIndo-Gulf FertilisersIndusInd BankLeaseLeasingOperating leaseSupreme Court

Special Bench verdicts on Sale & Lease Back & lease finance are not good law

CLR Editorial Notes: In this case, the assessee, a Bank, had bought assets from a customers and had then leased it back to them under a sale and lease back agreement. It had also purchased assets which were identified by its customers and leased it to back to them under a finance lease agreement. The… Read More

Tags: BusinessCITDelDelhi High CourtDepreciationFinance leaseIndiaIndusInd BankLeasingMumbaiSale & Lease BackSupreme CourtThe Silver Chair

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