ITAT: Depreciation Not Allowable on Office Premises if it is Assessed as House Property Income - 24.06.2019

Income Tax Appellate Tribunal (ITAT) Mumbai has held that the Assessee is not eligible to claim depreciation on office premises granted on the lease as business expenditure if it is already assessed as income from house property against which statutory deduction under Section 24 of Income Tax Act, 1961 is already allowed.

Tags : ITAT Depreciation

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