Assessee claimed 50 per cent depreciation on building claiming it to be a temporary structure.\u00a0 Assessing Officer accepted. The assessment was reopened.\u00a0\u00a0 Assessing Officer found that structure had been standing for 20 years and it was renovated and beautified for use as a conference hall\u00a0 hence limited claim of depreciation to 10 per cent as against returned claim of 50 per cent. On writ High Court dismissed the petition\u00a0 and held that since appendix 1 provides for only 10 per cent depreciation for buildings other than used for residential purpose and not covered by sub items 1 and 3, assessee was not entitled to obtain 50 per cent depreciation. Order of the Assessing Officer is affirmed. SLP of Revenue is dismissed as the assesssee could not explain the delay of 344 days in filing the SLP.\u00a0\u00a0\u00a0 (AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 32 : Depreciation-Building-Building structure had been standing for 20 years and it was renovated and beautified for use as a conference hall-Only 10 per cent depreciation is allowable-Not a temporary structure-Delay of 344 days in filing SLP-Delay is not condoned. [Art. 136] <\/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-54793","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-efL","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54793","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=54793"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54793\/revisions"}],"predecessor-version":[{"id":54794,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54793\/revisions\/54794"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=54793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=54793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=54793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}