Section 263 Revision Valid for 100% Depreciation on Leasehold Improvements

Herbalife International India Pvt. Ltd. Vs CIT (Karnataka High Court)

Karnataka HC upholds revision under section 263 of Income Tax Act, 1961 for erroneous allowance of 100% depreciation on leasehold  1improvements

Assessee filed a return for AY 2008–09 declaring a revised loss of Rs 3.67 crore. It claimed 100% depreciation on leasehold improvements (Rs2.28 crore) made to its premises. These improvements included interior works, signage, & partitions claimed to be temporary in nature.AO accepted the depreciation claim without detailed discussion. A su

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