MAHINDRA HOLDINGS FINANCE LTD VERSUS ASSTT COMMISSIONER OF INCOME TAX - Income Tax - ITAT MUMBAI - Tri - Depreciation Disallowance on account of depreciation claimed at Rs.1.07 Crores of factory building which had not been used for business Held that - Ownership of building is not an essential precondition for claiming/allowing depreciation, but carrying on of business or profession is a mandatory condition - For claiming depreciation for a building it should be put to use for business or................................... Income Tax - Case Laws
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