Deferred Tax in the context of Finance Lease

Naturally . Yes.

Dear Sri Rohit, 

I got the same doubt.  I got it clarified through a faculty member based at chennai.  He says that there will be permanent difference and will not result in either DL or DTA.  This srini gentleman seeming to answer in brief, says yes or no without explanation, y should he resort to answering questions like this.  He has no job it seems in his office. simply spoiling the club student members

When X L'sor claims depreciation as per IT act, Y lessee cannot claim under IT act but as per AS 19.  In both X as well as Y accounting income will be different on account of this differential claim of depreciation.  So it will result in Permanent difference and only timing, temporary difference will result in DTL/DTA

My email id is tru2lif @ gmail.com