https://www.taxtmi.com/caselaws?id=55027 The Tribunal upheld the CIT(A)'s decision regarding the classification of the nursing home building as a plant for depreciation purposes, allowing 60% depreciation for the portion used as a nursing home. It also upheld the recalculated disallowance of 40% of bank interest and the addition towards household expenses. However, it directed the deletion of the addition towards the construction cost of the nursing home based solely on a Valuation Officer's report. The Tribunal also upheld the disallowance of 1/4th of car expenses and depreciation but remanded the non-adjudicated deduction claim under Section 80L for further consideration. en-us Fri, 30 Jan 2004 00:00:00 +0530 Tue, 23 Nov 2010 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55027 The Tribunal upheld the CIT(A)'s decision regarding the classification of the nursing home building as a plant for depreciation purposes, allowing 60% depreciation for the portion used as a nursing home. It also upheld the recalculated disallowance of 40% of bank interest and the addition towards household expenses. However, it directed the deletion of the addition towards the construction cost of the nursing home based solely on a Valuation Officer's report. The Tribunal also upheld the disallowance of 1/4th of car expenses and depreciation but remanded the non-adjudicated deduction claim under Section 80L for further consideration. Case-Laws Income Tax Fri, 30 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55027