1994 (1) TMI 42

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..... as carrying on business in property taken on lease. For the purpose of installing a machine, the assessee had to construct a bedding on the floor and it is also stated by the Income-tax Officer that some improvement was made to the building taken on lease. The appellate authorities have mentioned that the improvements include the construction of a room for storing the calendering cloth manufacture .....

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..... el appearing for the Revenue contended that since there was new construction which was eligible for depreciation under section 32(1A) of the Income-tax Act, the Appellate Tribunal was in error in allowing the deduction. But, we find that the depreciation originally granted by the Income-tax Officer was later withdrawn on the ground that the assessee was not the owner of the structure. Even though .....

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