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of <h1>Depreciation under tax law limited to buildings, not land. Ruling in line with precedent.</h1> The High Court of Allahabad held that depreciation under section 10(2)(vi) is applicable only to the superstructure, not the land. The decision was made ... Assesee, a dealer in motor trucks has a factory for repairing and servicing trucks sold by it - claim for depreciation on the site where building is erected - held that depreciation is not allowable on cost of land but it is allowable only on the cost of superstructure The High Court of Allahabad ruled that depreciation under section 10(2)(vi) can only be allowed on the superstructure, not on the land. The court cited the decision in Commissioner of Income-tax v. Alps Theatre to support this ruling. The court answered the question against the assessee and made no order as to costs.
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