https://www.taxtmi.com/caselaws?id=384926 The Tribunal dismissed both appeals, upholding the decisions of the Commissioner (Appeals) regarding the disallowance of depreciation on tenancy rights and payments to legal heirs of deceased partners. The Tribunal held that tenancy rights are not depreciable assets and that payments to legal heirs are deductible expenses. The order was pronounced on 7th August 2019, aligning with consistent views from previous assessments. en-us Wed, 07 Aug 2019 00:00:00 +0530 Tue, 27 Aug 2019 07:52:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384926 The Tribunal dismissed both appeals, upholding the decisions of the Commissioner (Appeals) regarding the disallowance of depreciation on tenancy rights and payments to legal heirs of deceased partners. The Tribunal held that tenancy rights are not depreciable assets and that payments to legal heirs are deductible expenses. The order was pronounced on 7th August 2019, aligning with consistent views from previous assessments. Case-Laws Income Tax Wed, 07 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384926