https://www.taxtmi.com/caselaws?id=404056 The High Court confirmed that roads developed and maintained by the assessee are eligible for depreciation at 10%. The matter regarding depreciation on leasehold rights was remanded to the Assessing Officer for further examination of the lease agreement. The High Court upheld the Tribunal's decision that Section 14A read with Rule 8D does not apply if no exempt income is received. The appeals were partly allowed, with specific directions for fresh consideration on the issue of leasehold rights and depreciation. en-us Tue, 19 Jan 2021 00:00:00 +0530 Wed, 15 Sep 2021 16:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404056 The High Court confirmed that roads developed and maintained by the assessee are eligible for depreciation at 10%. The matter regarding depreciation on leasehold rights was remanded to the Assessing Officer for further examination of the lease agreement. The High Court upheld the Tribunal's decision that Section 14A read with Rule 8D does not apply if no exempt income is received. The appeals were partly allowed, with specific directions for fresh consideration on the issue of leasehold rights and depreciation. Case-Laws Income Tax Tue, 19 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404056