https://www.taxtmi.com/caselaws?id=259670 The Tribunal dismissed the Revenue's appeal and affirmed the deletion of the penalty imposed under Section 271(1)(c). It held that tenancy rights do not qualify as intangible assets for depreciation but allowed depreciation at the rate applicable to buildings, considering the tenancy rights as tangible assets. The decision was pronounced on 24/04/2015. en-us Fri, 24 Apr 2015 00:00:00 +0530 Mon, 18 May 2015 07:30:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259670 The Tribunal dismissed the Revenue's appeal and affirmed the deletion of the penalty imposed under Section 271(1)(c). It held that tenancy rights do not qualify as intangible assets for depreciation but allowed depreciation at the rate applicable to buildings, considering the tenancy rights as tangible assets. The decision was pronounced on 24/04/2015. Case-Laws Income Tax Fri, 24 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259670