TMI Blog2019 (6) TMI 1208X X X X Extracts X X X X X X X X Extracts X X X X ..... of depreciation against office premises. The perusal of block of asset reveal that the assessee is in possession of various Galas, 12 to be precise , out of which few galas have been let out during the year and few galas have been used by the assessee for its own use. The depreciation on galas used for the business purposes is not under dispute. However, depreciation on galas as given on rent amount to ₹ 4.34 Lacs which have been disallowed by Ld. AO. Against the rental income, the assessee has already been allowed statutory deduction u/s 24 and this depreciation is being claimed as business expenditure over and above the statutory deduction which has been allowed u/s 24. The primary condition as envisaged by Section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iating that this office premises being part of the block of asset, depreciation ought to have been allowed thereon notwithstanding the fact that, during the year under appeal the office premises was let out by the appellant. Your appellant, therefore, prays that the depreciation of ₹ 4,34,854/- be allowed on this office premises. The assessment for impugned AY was framed u/s.143(3) on 27/02/2016 by Ld. Deputy Commissioner of Income Tax-4(2)(1), Mumbai [AO] wherein the income of the assessee was determined at ₹ 119.93 Lacs after certain adjustments and disallowances as against returned income of ₹ 50.15 Lacs e-filed by the assessee on 30/09/2013. The assessee being resident individual was stated to be en ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... qua a particular asset forming part of the block. Reliance was placed on certain judicial pronouncements in support of the same. However, not convinced, Ld. CIT(A) confirmed the disallowance by observing as under: - 8.3.1. I have considered the stand of the AO as well as the written submissions dated 30/05/2017 filed by the AR and his oral arguments. The undisputed facts are that during the year the office unit was actually let out by the appellant and rental income received from the same was offered to tax as income from house property and standard deduction u/s.24 of the Act was also claimed by him. The AO has assessed this rental income as income from house property after allowing deduction u/s.24 as claimed by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from House Property against which statutory deduction u/s 24 has already been allowed to the assessee. The assessee is not disputing the disallowance of office maintenance charges claimed against the premises as business expenditure but disputing the claim of depreciation against office premises. The perusal of block of asset, as placed on record, reveal that the assessee is in possession of various Galas, 12 to be precise , out of which few galas have been let out during the year and few galas have been used by the assessee for its own use. The depreciation on galas used for the business purposes is not under dispute. However, depreciation on galas as given on rent amount to ₹ 4.34 Lacs which have been disallowed by Ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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