This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Depreciation on Resorts allowable for full year despite having seasonal business
Case Law Details
- Case Name
- Niyant Heritage Hotels [P] Ltd Vs I.T.O (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Niyant Heritage Hotels [P] Ltd Vs I.T.O (ITAT Delhi)
There Is no dispute that the assessee is running a resort at Raj Niwas Palace, Dholpur. It Is also not In dispute that being a tourist place, the occupancy is not throughout the year but only in seasons favourable to the tourists. Therefore, basis the revenue of some months, it cannot be construed that the asset was used only for less than 180 days. We, therefore, direct the Assessing Officer to allow depreciation for entire year.
FULL TEXT OF THE ORDER OF ITAT DELHI
This appeal by the assessee is preferred against the order of the CIT[A]- ...
