TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>High Court overturns Tribunal decision allowing depreciation for building used as hotel/theatre</h1> The High Court of Kerala allowed the appeals filed by the Commissioner of Income-tax against the Income-tax Appellate Tribunal's order. The Tribunal's ... Depreciation - Whether Tribunal is right in law and fact in holding that the pond in the case of the assessee is to be treated as plant and is eligible for depreciation at the rate applicable to plant and machinery?' – Question is answered in favour of the Revenue and against the assessee. – Revenue’s appeal is allowed The High Court of Kerala allowed the appeals filed by the Commissioner of Income-tax against the Income-tax Appellate Tribunal's order. The Tribunal's decision in favor of the assessee was overturned based on a Supreme Court ruling that a building used as a hotel or theatre cannot be depreciated as plant. The orders of the Tribunal were set aside, and the Assessing Officer's orders were restored.
TaxTMI 
TaxTMI 
