https://www.taxtmi.com/caselaws?id=779981 HC held that the taxpayer cannot claim depreciation under s.32 for payments made toward common infrastructural facilities because a long-term leasehold/right to use does not make the taxpayer an "owner" of an intangible asset; the claim was therefore disallowed and the Tribunal's view affirmed. The HC treated the payment as part of the land (not building). However, the HC allowed interference with the Tribunal on the alternate claim: the contribution should be amortised and 5% of the amount, becoming non-refundable each year under the lease terms, is allowable as revenue expenditure in the year it crystallises. en-us Fri, 10 Oct 2025 00:00:00 +0530 Mon, 13 Jul 2026 14:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779981 HC held that the taxpayer cannot claim depreciation under s.32 for payments made toward common infrastructural facilities because a long-term leasehold/right to use does not make the taxpayer an "owner" of an intangible asset; the claim was therefore disallowed and the Tribunal's view affirmed. The HC treated the payment as part of the land (not building). However, the HC allowed interference with the Tribunal on the alternate claim: the contribution should be amortised and 5% of the amount, becoming non-refundable each year under the lease terms, is allowable as revenue expenditure in the year it crystallises. Case-Laws Income Tax Fri, 10 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779981