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2009 (3) TMI 628 - HC - Income TaxDepreciation - Held that:- cost incurred towards the construction activity for a holiday resort by depicting the estimated cost thereof. on the basis of the estimated cost, it was not possible for the Revenue to deter-mine the quantum of depreciation that had to be allowed to the respondent-assessee under section 32 of the Income-tax Act, 1961. The Assessing Officer required the actual cost to be determined by the District Valuation Officer and on the basis thereof, allowed a deduction in the nature of depreciation to the respondent-assessee, depreciation on the expenses incurred by the respondent-assessee on the construction of its holiday resort could not have been determined on the basis of any rough estimate. remanded the matter back to the Assessing Officer.
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