Court Overturns Depreciation Denial for Office Premises Due to Non-Segregated Land and Building Purchase Price.

Court Overturns Depreciation Denial for Office Premises Due to Non-Segregated Land and Building Purchase Price. https://www.taxtmi.com/highlights?id=60228 Disallowance of depreciation on composite land and building - depreciation claimed by the assessee on account of office premises at India Habitat Centre - when it is categoric case of the assessee that the purchase price of land and building is composite one and it has no segregation of value of land and building separately, disallowance made by the Assessing Officer/CIT(A) is not sustainable in the eyes of law. - AT en-us Sat, 23 Oct 2021 21:42:12 +0530 Sat, 23 Oct 2021 21:42:12 +0530 TaxTMI RSS Generator Court Overturns Depreciation Denial for Office Premises Due to Non-Segregated Land and Building Purchase Price. https://www.taxtmi.com/highlights?id=60228 Disallowance of depreciation on composite land and building - depreciation claimed by the assessee on account of office premises at India Habitat Centre - when it is categoric case of the assessee that the purchase price of land and building is composite one and it has no segregation of value of land and building separately, disallowance made by the Assessing Officer/CIT(A) is not sustainable in the eyes of law. - AT Highlights Income Tax Sat, 23 Oct 2021 21:42:12 +0530 https://www.taxtmi.com/highlights?id=60228