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Tenant can claim depreciation in respect of expense on leased premises
Case Law Details
- Case Name
- The Commissioner of Income Tax Central- III V/s. M/s. Urban Infrastructure Venture Capital Ltd. (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
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1] The present appeal pertains to Assessment Year 2008- 09.
2] Mr. Mohanty, the learned counsel for the Appellant submits that the appeal is filed on following question;
“6.1 Whether, on the facts and in the circumstances of the case and in law, the ITAT, Mumbai, was right in ignoring the provisions of Explanation 1 to section 32(1) of the Income Tax Act, 1961 and thereby holding the Capital Expenditure incurred by the Assessee on leased premises as Revenue Expenditure?”
3] The learned counsel for the Appellant submits that the explanation 1 of Section 32(1) of the Income Tax Act, 196...
