https://www.taxtmi.com/highlights?id=60797 Disallowance of depreciation on guest house - assessee has claimed depreciation @ 10% on guest house, which is applicable to factory and office buildings - assessee had also claimed depreciation @ 15% on plant & machinery, kitchen equipments and electrical fittings - Once, a particular asset is entitled for higher depreciation as per the Act, the AO was erred in restricting depreciation on said assets to 5%, which is applicable to residential building merely because those assets are installed in guest house building. - AT en-us Mon, 06 Dec 2021 09:36:04 +0530 Mon, 06 Dec 2021 09:36:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=60797 Disallowance of depreciation on guest house - assessee has claimed depreciation @ 10% on guest house, which is applicable to factory and office buildings - assessee had also claimed depreciation @ 15% on plant & machinery, kitchen equipments and electrical fittings - Once, a particular asset is entitled for higher depreciation as per the Act, the AO was erred in restricting depreciation on said assets to 5%, which is applicable to residential building merely because those assets are installed in guest house building. - AT Highlights Income Tax Mon, 06 Dec 2021 09:36:04 +0530 https://www.taxtmi.com/highlights?id=60797