Financial leased land

Priya (trainee) (384 Points)

25 March 2013  

 

The company is intended to lease a land and building to get its benefit on
depreciation i.e financial lease.Now someone told me that there is specific time
period for which the lease it required to be under the lessee for availing the
benefit but I m not getting the specific provision, case law or section in support
of that view.