A company is operating from a leasehold premises. It has made certain improvements in the premises. Can the depreciation be claimed under Income Tax Act for such improvements made since, he is not the owner of the main property.
Kindly mention any relevant case laws in this issue.
04 November 2010
As per explanation 1 to section 32(1) w.e.f 01/04/1988, in like situations, the tenant can claim depreciation for the capital expenditure incurred.
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