Depreciation allowance restricted for structures or works sold, demolished, or surrendered following determination of lease rights. Amendment links subsection (1) to subsection (1A) and expands eligible assets by substituting 'plant, furniture, structure or work' for 'plant or furniture.' It adds an explicit exclusion that nothing in clause (i) of subsection (1A) of section 32 shall authorise allowance for any previous year for any structure or work in or related to a building that is sold, discarded, demolished, destroyed or surrendered due to determination of the lease or other right of occupancy in that year.
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 allowance restricted for structures or works sold, demolished, or surrendered following determination of lease rights.
Amendment links subsection (1) to subsection (1A) and expands eligible assets by substituting "plant, furniture, structure or work" for "plant or furniture." It adds an explicit exclusion that nothing in clause (i) of subsection (1A) of section 32 shall authorise allowance for any previous year for any structure or work in or related to a building that is sold, discarded, demolished, destroyed or surrendered due to determination of the lease or other right of occupancy in that year.
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