2012 (11) TMI 851

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....unal passed on June 30, 2003 in respect assessment year. The appeal was admitted in respect of the following substantial questions of law : I. Whether the Tribunal erred in declining depreciation of Rs. 83,82,493/- in entirety in respect of the long-term lease-hold properties including the lease for perpetuity and restricting the depreciation only with regard to capital expenditure for any struct....

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....ce under similar circumstances in the past ? At the outset Mr. Bagchi, learned senior counsel, appearing for the appellant assessee submits upon instruction that his client is not willing to proceed with respect to the question formulated in Clause (I). We, therefore, refrain ourselves from expressing our opinion with regard to the question of law formulated in Clause (I). With regard to the que....