Depreciation on tenancy rights
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 April 2012
can Depreciation be claimed on Tenancy Rights under Income Tax Act
07 April 2012
No.
Citation :- M. M. Nissim & Co Vs. ACIT (2007) 18 SOT 274 (Mum - Tri).
Citation :- M. M. Nissim & Co Vs. ACIT (2007) 18 SOT 274 (Mum - Tri).
CA CS Amit S. Kedia
(Expert)
07 April 2012
Tenancy rights only give right to the assessee to occupy and use the premises taken on rent and the said right cannot be considered as any business or commercial right which can be exploited for the purpose of its business.
M/s Fem care Pharma Ltd.v. ACIT-(I.T.A. No.2123/Mumbai/2010)
M/s Fem care Pharma Ltd.v. ACIT-(I.T.A. No.2123/Mumbai/2010)
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