https://www.taxtmi.com/caselaws?id=293437 Depreciation was upheld on roads by treating them as part of a building for the applicable depreciation rate, following the assessee's earlier year treatment. Leasehold rights in land were also held eligible for depreciation as a capital asset / intangible asset on the reasoning applied in the assessee's case. On section 14A read with Rule 8D, no disallowance was permitted because no exempt income had accrued or been received during the year. The Revenue's appeals were rejected and the relief granted to the assessee was sustained on all disputed issues. en-us Wed, 24 May 2017 00:00:00 +0530 Thu, 11 Feb 2021 06:03:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293437 Depreciation was upheld on roads by treating them as part of a building for the applicable depreciation rate, following the assessee's earlier year treatment. Leasehold rights in land were also held eligible for depreciation as a capital asset / intangible asset on the reasoning applied in the assessee's case. On section 14A read with Rule 8D, no disallowance was permitted because no exempt income had accrued or been received during the year. The Revenue's appeals were rejected and the relief granted to the assessee was sustained on all disputed issues. Case-Laws Income Tax Wed, 24 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293437