2020 (10) TMI 98

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....e Appellant. Mr. Percy J. Pardiwalla, Senior Advocate with Mr. Atul K. Jasani, Advocates for the Respondent. P.C.:- 1. Heard Mr.Malhotra, learned standing counsel, revenue and Mr.Pardiwalla, learned senior counsel alongwith Mr.Atul Jasani, learned counsel for the respondent/assessee. 2. This appeal has been filed by the revenue under section 260A of the Income Tax Act, 1961 (briefly"th....

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....the case and in law, Tribunal is justified in allowing depreciation of Rs. 27,60,587.00 on Floor Space Index (FSI) @ 10% of total consideration, without appreciating that grant of additional FSI is not in the nature of any kind of assets until and unless the additional flooring/building is constructed, therefore, not eligible for depreciation in this case? 2. Whether on the facts and in t....