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 Boveri, Business, Delhi High Court, Finance lease, Indo-Gulf Fertilisers, IndusInd Bank, Lease, Leasing, Operating lease, Supreme Court