https://www.taxtmi.com/caselaws?id=10852 The High Court held that depreciation on a guest house was not allowable under section 37(4) of the Income-tax Act, 1961, as the guest house was not used for business purposes. The Court emphasized that specific provisions prohibiting depreciation on such assets prevail over general provisions for depreciation. The Court ruled in favor of the Revenue, concluding that the assessee was not entitled to claim depreciation on the guest house, disposing of the income-tax reference accordingly. en-us Tue, 13 May 2003 00:00:00 +0530 Sun, 26 Jul 2009 16:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10852 The High Court held that depreciation on a guest house was not allowable under section 37(4) of the Income-tax Act, 1961, as the guest house was not used for business purposes. The Court emphasized that specific provisions prohibiting depreciation on such assets prevail over general provisions for depreciation. The Court ruled in favor of the Revenue, concluding that the assessee was not entitled to claim depreciation on the guest house, disposing of the income-tax reference accordingly. Case-Laws Income Tax Tue, 13 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10852