https://www.taxtmi.com/caselaws?id=384943 The Court ruled in favor of the Assessee regarding entitlement to depreciation on a specific amount as building, allowing depreciation for business purposes but denying a claim for payment made to ITC Ltd as revenue expenditure. The Court remitted the matter to the ITAT for a fresh decision on the treatment of the expenditure. Additionally, the Court affirmed the Assessee's income as income from house property due to the hotel-related business nature, directing the ITAT to reconsider the specific issue. The appeal was restored to the ITAT for further consideration within a specified timeframe. en-us Tue, 20 Aug 2019 00:00:00 +0530 Mon, 26 Aug 2019 18:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384943 The Court ruled in favor of the Assessee regarding entitlement to depreciation on a specific amount as building, allowing depreciation for business purposes but denying a claim for payment made to ITC Ltd as revenue expenditure. The Court remitted the matter to the ITAT for a fresh decision on the treatment of the expenditure. Additionally, the Court affirmed the Assessee's income as income from house property due to the hotel-related business nature, directing the ITAT to reconsider the specific issue. The appeal was restored to the ITAT for further consideration within a specified timeframe. Case-Laws Income Tax Tue, 20 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384943