https://www.taxtmi.com/caselaws?id=382131 The tribunal upheld the disallowance of depreciation on office premises let out by the assessee for the Assessment Year 2013-14. The decision was based on the requirement that assets must be used for the assessee's business to claim depreciation, which was not met in this case where the premises generated rental income under the head Income from House Property. The tribunal emphasized that allowing depreciation on let-out premises after standard deduction would lead to double deduction, which is impermissible under the law. Previous case laws cited were distinguished due to factual variances. en-us Wed, 03 Apr 2019 00:00:00 +0530 Tue, 25 Jun 2019 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382131 The tribunal upheld the disallowance of depreciation on office premises let out by the assessee for the Assessment Year 2013-14. The decision was based on the requirement that assets must be used for the assessee's business to claim depreciation, which was not met in this case where the premises generated rental income under the head Income from House Property. The tribunal emphasized that allowing depreciation on let-out premises after standard deduction would lead to double deduction, which is impermissible under the law. Previous case laws cited were distinguished due to factual variances. Case-Laws Income Tax Wed, 03 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382131