Depreciation on leasehold improvements permitted, with prescribed allowance and shortfall deduction on disposal or lease termination. Amendment permits depreciation allowance for leasehold structures or works executed by an assessee on a building not owned by them, applying prescribed percentages on written down value and remaining subject to existing provisions; where such structure or work is disposed of or surrendered on lease determination, a deduction equals the shortfall between written down value and moneys payable plus scrap value, provided the deficiency is written off, with 'moneys payable' including insurance, compensation or sale proceeds.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Depreciation on leasehold improvements permitted, with prescribed allowance and shortfall deduction on disposal or lease termination.
Amendment permits depreciation allowance for leasehold structures or works executed by an assessee on a building not owned by them, applying prescribed percentages on written down value and remaining subject to existing provisions; where such structure or work is disposed of or surrendered on lease determination, a deduction equals the shortfall between written down value and moneys payable plus scrap value, provided the deficiency is written off, with "moneys payable" including insurance, compensation or sale proceeds.
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