https://www.taxtmi.com/caselaws?id=438904 The Tribunal allowed the assessee's appeal in part. It ruled in favor of the assessee regarding the claim of depreciation on the boundary wall, stating that once the wall serves its purpose of protecting business assets, it qualifies for depreciation. However, the Tribunal upheld the decision on the cost of acquisition for capital gains calculation, stating that the indexed cost of acquisition should only be considered for the land actually sold, not for the entire land acquired. en-us Tue, 30 May 2023 00:00:00 +0530 Mon, 12 Jun 2023 08:43:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438904 The Tribunal allowed the assessee's appeal in part. It ruled in favor of the assessee regarding the claim of depreciation on the boundary wall, stating that once the wall serves its purpose of protecting business assets, it qualifies for depreciation. However, the Tribunal upheld the decision on the cost of acquisition for capital gains calculation, stating that the indexed cost of acquisition should only be considered for the land actually sold, not for the entire land acquired. Case-Laws Income Tax Tue, 30 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438904