https://www.taxtmi.com/caselaws?id=18735 The Court ruled in favor of the assessee, holding that they were entitled to initial depreciation under section 32(1)(iv) of the Income-tax Act. The Court found that the assessee met the statutory requirements as the building was newly erected, used solely for employee residences with incomes below the specified threshold, and ownership was established. The decision emphasized the importance of meeting criteria and providing evidence to support the claim, ultimately overturning the Tribunal's denial of initial depreciation based on the facts presented. en-us Mon, 11 Dec 1995 00:00:00 +0530 Sat, 31 Oct 2009 16:48:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18735 The Court ruled in favor of the assessee, holding that they were entitled to initial depreciation under section 32(1)(iv) of the Income-tax Act. The Court found that the assessee met the statutory requirements as the building was newly erected, used solely for employee residences with incomes below the specified threshold, and ownership was established. The decision emphasized the importance of meeting criteria and providing evidence to support the claim, ultimately overturning the Tribunal's denial of initial depreciation based on the facts presented. Case-Laws Income Tax Mon, 11 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18735