S.L. 123.1 Art. 10Deduction in relation to use and ownership of asset.

Where a person makes use of an asset which does not belong to him on such terms that the burden of wear and tear falls on the user and not on the owner of the asset, wear and tear shall be computed in accordance with these rules and shall be allowed as a deduction to the user to the same extent as if the owner of the asset had retained its use and were using it in the production of the owner’s income.