Depreciation u/s 32 ::
Court :
High Court
Brief :
To claim depreciation under section 32 mere possession and use the property for the purpose of business or profession is enough
Citation :
Bharat Aluminium Co. Ltd. Vs. C.I.T.
Depreciation u/s 32
Bharat Aluminium Co. Ltd. Vs. C.I.T. 01/15/2007
[2007] 292 ITR 600 (Delhi)
Case Fact: Whether, without having legal ownership or title of buildings/ immovable property, claiming depreciation under section 32 is justified in law?
Decision: Held by the Hon`ble Court that, to claim depreciation under section 32 mere possession and use the property for the purpose of business or profession is enough
CA.Saibaburao Nanduri
Published in Income Tax
Views : 98
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