1998 (4) TMI 123

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....delivered by MS. S. V. MARUTHI J.---This is a reference at the instance of the assessee. The assessee is a public sector undertaking wholly owned by the Government of Andhra Pradesh. The Andhra Pradesh Industrial Development Corporation constructed a building known as "Parisrama Bhavan". The assessee purchased two floors in the said building. Full consideration was paid to the Government. Ho....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....es of the case, the assessee was entitled to depreciation on building purchased by it from Andhra Pradesh Industrial Development Corporation?" The issue involved in this case is now covered by a judgment of the Supreme Court in CIT v. Podar Cement Pvt. Ltd. [1997] 226 ITR 625, wherein it was held : "The liability to pay income-tax as owner is on the person who receives or is entitled to rece....