https://www.taxtmi.com/caselaws?id=413912 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to delete the addition made on account of disallowance of depreciation claimed on office premises at India Habitat Centre. The Tribunal ruled in favor of the assessee, citing precedents that when there is no segregation of the value of land and building and a composite price is paid, the entire depreciation claim is allowable under section 32 of the Income Tax Act, 1961. The decision was rendered on a virtual hearing on 21st October, 2021. en-us Thu, 21 Oct 2021 00:00:00 +0530 Fri, 22 Oct 2021 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413912 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to delete the addition made on account of disallowance of depreciation claimed on office premises at India Habitat Centre. The Tribunal ruled in favor of the assessee, citing precedents that when there is no segregation of the value of land and building and a composite price is paid, the entire depreciation claim is allowable under section 32 of the Income Tax Act, 1961. The decision was rendered on a virtual hearing on 21st October, 2021. Case-Laws Income Tax Thu, 21 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413912