Allowing the appeal of the assessee the Court held that the lessor of assets leased in course of leasing business is entitle to depreciation. (AY.2004-05) .( AY. 2000-01 )
Hewlett-Packard India Sales Pvt. Ltd. v. CIT (2021) 430 ITR 460/ 277 Taxman 524 / 202 DTR 293/ 279 Taxman 355 (Karn.)(HC)
S. 32 : Depreciation-Finance lease-Lessor of assets leased in course of leasing business-Depreciation allowable.