https://www.taxtmi.com/caselaws?id=121847 The Tribunal dismissed the appeal, confirming that the assessee was not entitled to depreciation allowance under section 32 of the Income-tax Act for a building at Bangalore Airport Road. The Tribunal held that the shareholders, not the assessee, were the real owners of the building based on their absolute and exclusive rights. The alternative claim for depreciation on common areas was also denied as they were considered incidental to the allotted areas. en-us Wed, 08 Oct 2008 00:00:00 +0530 Mon, 06 Aug 2012 16:46:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121847 The Tribunal dismissed the appeal, confirming that the assessee was not entitled to depreciation allowance under section 32 of the Income-tax Act for a building at Bangalore Airport Road. The Tribunal held that the shareholders, not the assessee, were the real owners of the building based on their absolute and exclusive rights. The alternative claim for depreciation on common areas was also denied as they were considered incidental to the allotted areas. Case-Laws Income Tax Wed, 08 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121847