Bifurcation of consideration into land and building separately necessary for claiming depreciation

Primarc Story Venture Pvt Ltd Vs ACIT (ITAT Kolkata)

Bifurcation of the consideration into land and building separately becomes necessary for claiming depreciation, therefore, the case was remanded back to AO for bifurcating consideration into land & building and depreciation was to be allowed only on building portion.

FULL TEXT OF THE ITAT JUDGMENT