Supreme Court of India
Commissioner of Income-tax, Punjab Jammu & Kashmir & Himachal Pradesh, Patiala v. M/s. Alps Theatre, Patiala
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
In the result the appeal succeeds, the judgment of the High Court set aside and the question referred is answered in the nega tive and against the assessee.
Judgment, page 5
From the headnote
Indian /ncome·tax Act, 1922 (II of 1922), s. 10(2) (4)-Depreciation -If land included. The Revenue authorities did not allow depreciation on the cost of land alongwith the cost of building standing thereon. The Appellate Tribunal accepted the assessee's appeal and the High Court answered the question in favour of the assessee. In appeal to this Court by the Revenue: HELD : The appeal must be allowed. Building under s. · 10(2), does not include tho site because there can not be any question of destruction of the site. (183 El The word used in s. 10(2) (vi) is "depreciation" and "depreciation"
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