https://www.taxtmi.com/caselaws?id=210969 The court upheld the assessment of license fee as business income for the relevant assessment years, as per the hotel operator agreement. Disallowance of depreciation on the hotel building was deemed unjustified, as ownership and business usage were established. The consistent treatment of ownership, usage of assets, and depreciation in past assessments supported the decision. The principle allowing depreciation in lease transactions was applied, justifying the allowance of depreciation on hotel assets. Despite discrepancies, the settled position for the assessment years maintained the addition of license fee to income and allowance of depreciation. The appeals filed by the Revenue were dismissed. en-us Tue, 14 Feb 2012 00:00:00 +0530 Fri, 24 Feb 2012 17:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210969 The court upheld the assessment of license fee as business income for the relevant assessment years, as per the hotel operator agreement. Disallowance of depreciation on the hotel building was deemed unjustified, as ownership and business usage were established. The consistent treatment of ownership, usage of assets, and depreciation in past assessments supported the decision. The principle allowing depreciation in lease transactions was applied, justifying the allowance of depreciation on hotel assets. Despite discrepancies, the settled position for the assessment years maintained the addition of license fee to income and allowance of depreciation. The appeals filed by the Revenue were dismissed. Case-Laws Income Tax Tue, 14 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210969