2001 (10) TMI 42

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.... JAWAHAR LAL GUPTA J.-The assessee filed its return of income for the assessment year 1990-91. The assessee had, inter alia, shown income as under: ------------------------------------------------------------------------ (i) Income from rent                          ....

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....ale of plot was held as income from "capital gain". Thus, the taxable income was fixed at Rs.3,59,470. Aggrieved by the order, the assessee filed an appeal and claimed that the additions had been wrongly made. The appeal was accepted. The Revenue filed an appeal before the Income-tax Appellate Tribunal. The appeal having been dismissed, it has approached this court through this appeal under sec....

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....depreciation could not have been allowed. The Commissioner had erred in accepting the assessee's claim on the total property. The contention is misconceived. Even the question framed by the Revenue in its petition of appeal shows that the depreciation had been claimed "on the let-out property" only. Mr. Sawhney submits that the Tribunal has erred while interpreting the decision of their Lord....