{"id":14695,"date":"2020-12-31T10:20:21","date_gmt":"2020-12-31T10:20:21","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-gunnebo-india-pvt-ltd-2020-428-itr-233-bomhc-2\/"},"modified":"2020-12-31T10:20:21","modified_gmt":"2020-12-31T10:20:21","slug":"pcit-v-gunnebo-india-pvt-ltd-2020-428-itr-233-bomhc-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-gunnebo-india-pvt-ltd-2020-428-itr-233-bomhc-2\/","title":{"rendered":"PCIT v. Gunnebo India Pvt. Ltd. (2020) 428 ITR 233 (Bom)(HC)"},"content":{"rendered":"<p>The assessee sold land along with the building. The assessee had valued the land and the building separately and claimed depreciation on the constructed property. The assessee offered the sale consideration attributed to the building to tax and claimed depreciation on the constructed property. The Assessing Officer \u00a0assessed the entire sale consideration to capital gains. \u00a0On appeal the Tribunal accepted such depreciation, however subject to rider of revaluation of another property which also formed part of the block of depreciable assets. On appeal High Court affirmed the order of the Tribunal . \u00a0\u00a0\u00a0( AY.2008-09)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.45 : Capital gains \u2014Block of assets &#8211; Land and building \u2014Valued separately \u2014  Held to be justified [ S. 2(11) ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-14695","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3P1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=14695"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14695\/revisions"}],"predecessor-version":[{"id":14696,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14695\/revisions\/14696"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}