Lessee can claim depreciation if entire control & rights of building are with him

Brief- Delhi High Court has in the case of CIT Vs M/s Bharat Hotels held that If appellant Leasee is having entire control over the building than even though no ownership rights vest him, still he can claim depreciation on the same. It was further held that receipt of the interest free deposit from the sub lessee in the F.Y 1986-87 and 1987-88 same would be included in its business income as a taxable receipt. Brief of the case: AO had made addition to the income of the assessee on various grounds inclusive the addition of wrong claimed depreciation by the assessee on the basis that the asse...