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2020 (4) TMI 611 - AT - Income TaxDepreciation on office buildings - absence of segregation of the value of land, depreciation was being claimed on the basis of total cost paid to the India Habitat Centre - HELD THAT:- When the assessee bank does not have any segregation value of land and building of the said premises and it has paid composite price, the entire depreciation claim is allowable under Section 32 of the Act. So, following the aforesaid decision rendered by the Co-ordinate Bench of the Tribunal in CIT vs. Rajesh Exports Ltd. [2005 (11) TMI 362 - ITAT BANGALORE] and when it is categoric case of the assessee that the purchase price of land and building is composite one and it has no segregation of value of land and building separately, disallowance made by the AO/ CIT (A) is not sustainable in the eyes of law. - Decided in favour of assessee.
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