2014 (2) TMI 31

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....7 without appreciating the fact that Amul parlours had sturdy structures due to use of concrete and tiles and cannot be said to be having useful life of one year only and further without appreciating the fact that the assessee itself had considered the same as capital asset for A.Y. 200203 and had claimed depreciation @10%? (ii) Whether the ITAT was justified in law in relying on the decision of Hon'ble Madras High Court in the case of CIT v. TVS Lean Logistics Ltd. (2007) 293 ITR 432(Mad) wherein the issue dealt with is regarding capital and revenue expenditure and not regarding issue of permanent/temporary structures leading to allowability of higher depreciation and hence the case is clearly distinguishable?" This question was cons....

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.... the AUDA to use land on the terms and conditions set out therein. Conditions of the said agreement relevant for our purpose read as under : "1. The second part shall be permitted access to the garden plot for the purpose of beautifying, maintaining and using them for storing selling their products from the booth in the garden to the public. This permission shall not create any tenancy or proprietary rights or any other interest in the garden, which shall continue to be of the exclusive ownership, control and possession of the AUDA. 2. The second part shall submit a detailed plant construction of Milk Booth and maintenance of the garden and get the same approved by the AUDA. The second part shall keep in mind the existing facilities a....

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....e extended. During currency of the period of the agreement, the assessee had to maintain the garden and permit full access to the members of the public. The assessee did not have any right to develop any part of the land or put up construction without the permission of AUDA. 8. Such conditions would establish that the assessee had a limited right to use the land for the limited purpose and the limited period. We are informed that in the next year because of non renewal of the agreement, the assessee's structure was demolished. In this context, we may refer to the decision of the Supreme Court in case of Madras Auto Service (P) ltd.(supra). It was a case in which the assessee entered into a lease agreement with the lessor for a period of ....