2020 (10) TMI 98

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... lla, Senior Advocate with Mr. Atul K. Jasani, Advocates for the Respondent. P.C.:- 1. Heard Mr.Malhotra, learned standing counsel, revenue and Mr.Pardiwalla, learned senior counsel alongwith Mr.Atul Jasani, learned counsel for the respondent/assessee. 2. This appeal has been filed by the revenue under section 260A of the Income Tax Act, 1961 (briefly"the Act" hereinafter) against the order date .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... preciation of Rs. 27,60,587.00 on Floor Space Index (FSI) @ 10% of total consideration, without appreciating that grant of additional FSI is not in the nature of any kind of assets until and unless the additional flooring/building is constructed, therefore, not eligible for depreciation in this case? 2. Whether on the facts and in the circumstances of the case and in law, Tribunal is justified i .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... order of the Tribunal for the assessment year 2006-2007. It has been held that no substantial question of law arises on this issue from the order of the Tribunal. Following the said order we dismiss the present appeal of the revenue by holding that no substantial question of law arises from the order of the Tribunal. 9. However, there shall be no order as to costs. 10. This order will be digital .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X