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To claim depreciation ready for use of Asset is enough
Case Law Details
- Case Name
- Mantri Developers Private Limited Vs DCIT (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Bangalore
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Mantri Developers Private Limited Vs DCIT (ITAT Bangalore)
As per these provisions, even if the building is not actually let out and the assessee is not occupying the same for the purpose of business, Annual Value of the building is to be estimated at the sum for which the property might reasonably be expected to let from year to year and it is brought to tax. Hence, actual use is not a precondition to bring the property to tax under the head Income from House Property.
Section 22 is not applicable in a case where the property is occupied by the assessee for business purpose a...
