https://www.taxtmi.com/caselaws?id=285314 The Delhi High Court dismissed the appeal challenging the penalty imposed for claiming depreciation on land at 10% under Section 260A of the Income Tax Act, 1961. The Court held that depreciation on land cannot be claimed as per established principles and found that the appellant failed to discharge the onus under Section 271(1)(c) of the Act. Consequently, the Court declined to interfere with the decision and upheld the penalty, ultimately dismissing the appeal. en-us Fri, 02 Dec 2011 00:00:00 +0530 Tue, 07 Jan 2020 15:56:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285314 The Delhi High Court dismissed the appeal challenging the penalty imposed for claiming depreciation on land at 10% under Section 260A of the Income Tax Act, 1961. The Court held that depreciation on land cannot be claimed as per established principles and found that the appellant failed to discharge the onus under Section 271(1)(c) of the Act. Consequently, the Court declined to interfere with the decision and upheld the penalty, ultimately dismissing the appeal. Case-Laws Income Tax Fri, 02 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285314