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“Section 32(1)”

Section References (mined)Section 32Section 32(1)889 judgments

The decision most relied on for Section 32(1) is CIT v. Smifs Securities Ltd. (348 ITR 302), cited in 540 judgments on BharatTax.

Leading authorities on Section 32(1)

CIT v. Smifs Securities Ltd.
348 ITR 302 · 2012 · Supreme Court
540
citing judgments

Goodwill, whether arising from an amalgamation or a slump sale, is an intangible asset eligible for depreciation under Section 32(1) of the Income-tax Act. While the assessee must prove the existence and valuation of such goodwill, it is recognized as a depreciable asset.

Sahney Steel and Press Works Ltd. v. CIT
228 ITR 253 · 1997 · Supreme Court
429
citing judgments

A subsidy is treated as a revenue receipt if the assessee is free to use the money in its business as it likes and is not obligated to spend it for a specific capital purpose, such as acquiring assets or repaying loans.

Sutlej Cotton Mills Ltd. v. CIT
116 ITR 1 · 1979 · Supreme Court
409
citing judgments

A gain arising from the cancellation of a forward exchange contract entered into for the acquisition of a capital asset constitutes a capital receipt. Income-tax liability for such transactions is determined by the specific provisions of the Income Tax Act, independent of the accounting treatment in the books of account.

Vijaya Bank v. CIT
323 ITR 166 · 2010 · Supreme Court
392
citing judgments

A provision for bad and doubtful debts debited to the profit and loss account and reduced from advances on the balance sheet constitutes a write-off for deduction purposes. This is true even if individual debtor accounts are not closed.

CIT v. Bokaro Steel Ltd.
236 ITR 315 · 1999 · Supreme Court
370
citing judgments

Interest earned during the pre-commencement period of a project, on advances made to contractors or on unutilized borrowed funds, if inextricably linked to the setting up of the plant, constitutes a capital receipt. Such interest is not taxable as income but can be reduced from the capital work-in-progress.

Bajaj Tempo Ltd. v. CIT
196 ITR 188 · 1992 · Supreme Court
289
citing judgments

Provisions in taxing statutes that grant incentives, concessions, or exemptions for promoting economic growth and industrialization must be interpreted liberally and purposively. Any restrictions placed on such provisions should also be construed reasonably to advance their objective, not frustrate it.

ICDS Ltd. v. CIT
350 ITR 527 · 2013 · Supreme Court
280
citing judgments

An assessee engaged in the business of hire purchase or leasing, being the lessor, is entitled to claim depreciation on assets leased out, even if the assets are registered in the name of the lessee and used by the lessee.

Alembic Chemical Works Co. Ltd. v. CIT
177 ITR 377 · 1989 · Supreme Court
275
citing judgments

Expenditure that provides a commercial advantage of an enduring nature may still be classified as revenue expenditure if its purpose is to facilitate existing trading operations, improve business efficiency, or upgrade existing products, depending on the specific context and objective.

Judgments citing Section 32(1)

Coromandel International Limited, Hyderabad vs. DCIT., Circle-2(2), Hyderabad

In the result the appeal of the assessee is partly allowed for statistical purposes

ITA 738/HYD/2025[2015-2016]Status: DisposedITAT Hyderabad18 Mar 2026AY 2015-2016

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdiaआयकर अपीलसं./I.T.A. No.738/Hyd/2025 ("नधा"रणवष"/ Assessment Year:2015-16) Coromandel International Vs. Dcit, Limited, Circle-2(2), Hyderabad. Hyderabad. Pan: Aaacc7852K (अपीलाथ"/ Appellant) (""यथ"/ Respondent) करदाताका""त"न"ध"व/ : Shri Sp Chidambaram, Advocate Assessee Represented By राज"वका""त"न"ध"व/ : Ms. U. Mini Chandran, Cit-Dr Department Represented By सुनवाईसमा"तहोनेक""त"थ/ : 02/03/2026 Date Of Conclusion Of Hearing घोषणा क" तार"ख/ : 18/03/2026 Date Of Pronouncement Order Per Madhusudan Sawdia, A.M.: This Appeal Is Filed By Coromandel International Limited (“The Assessee”), Feeling Aggrieved By The Order Passed By The Learned Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi (“Ld. Cit(A)”) Dated 24/02/2025 For The Assessment Year (“A.Y.”) 2015-16. Page 1 Of 17 Coromandel International Limited Vs. Dcit 2. The Assessee Has Raised The Following Grounds Of Appeal:

Section 250Section 32Section 32(1)(ii)Section 35

claimed by the Assessee in the return of income. d. The denial of depreciation on goodwill, being a recognized depreciable intangible asset under Section 32(1)(ii), on account of a procedural lapse, is in clear contravention of statutory provisions and settled judicial principles, and therefore untenable ... During the appellate proceedings before the Ld. CIT(A), the assessee for the first time raised an additional ground claiming depreciation under section 32(1)(ii) of the Act on the alleged goodwill arising from the aforesaid Page 4 of 17 Coromandel International Limited Vs. DCIT amalgamations

Dcm Shriram Industris Ltd, New Delhi vs. DCIT Circle-7(1), New Delhi

In the result, the appeal filed by the assessee is allowed in above terms

ITA 2166/DEL/2022[2018-19]Status: DisposedITAT Delhi18 Mar 2026AY 2018-19

Bench: Shri Challa Nagemdra Prasad & Shri S. Rifaur Rahman

Section 115JSection 143(3)Section 144C(10)Section 14ASection 80Section 92C

evident from the Supreme Court significantly observing that Section 10B(8) being an exemption provision not being liable to be compared with Section 32(1)(ii-a) and which was concerned with a claim for additional depreciation. Regard must also be had to the fact that Section 10B(1

Hyderabad Ring Road Project Private Limited, India vs. ACIT, Circle

In the result Appeal of the assessee in ITA No

ITA 4090/DEL/2025[2017-18]Status: DisposedITAT Delhi11 Mar 2026AY 2017-18

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

For Appellant: Shri Chinu Bhasin, AdvFor Respondent: Shri Mahesh Kumar, CIT-DR
Section 143(3)

submitted that such an exclusive right has been adjudicated to be in the nature of 'capital/intangible asset' falling within the purview of section 32(1)(ii) of the Act and has been found eligible for claim of depreciation and placed reliance on the decision of Special Bench ... roads under BOT contract with the Govt. of India, has given rise to an intangible asset as defined under Explanation 3(b) r/w section 32(1)(ii) of the Act and hence the assessee is eligible to claim depreciation on such asset. 11. The ld. counsel for the assessee continued

ACIT, Circle - 10(1), Delhi vs. M/S Hyderabad Ring Road Project Private Limited, Delhi

In the result Appeal of the assessee in ITA No

ITA 3599/DEL/2025[2017-18]Status: DisposedITAT Delhi11 Mar 2026AY 2017-18

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

For Appellant: Shri Chinu Bhasin, AdvFor Respondent: Shri Mahesh Kumar, CIT-DR
Section 143(3)

submitted that such an exclusive right has been adjudicated to be in the nature of 'capital/intangible asset' falling within the purview of section 32(1)(ii) of the Act and has been found eligible for claim of depreciation and placed reliance on the decision of Special Bench ... roads under BOT contract with the Govt. of India, has given rise to an intangible asset as defined under Explanation 3(b) r/w section 32(1)(ii) of the Act and hence the assessee is eligible to claim depreciation on such asset. 11. The ld. counsel for the assessee continued

Deputy Commissioner of Income Tax-2(2)(1), Mumbai, Aayakar Bhavan, Churchgate vs. Mumbai International Airport Limited, Mumbai

ITA 7035/MUM/2025[2014-15]Status: DisposedITAT Mumbai09 Mar 2026AY 2014-15

Bench: Shri Saktijit Dey & Shri Makarand V Mahadeokar

Section 143(3)Section 14ASection 250Section 28Section 32(1)(ii)Section 35D

civil structures forming part of the building and not functional tools of trade, and thereby allowing higher depreciation contrary to Explanation 1 to section 32(1)(ii) of the Income Tax Act, 1961? 8. Whether, on the facts and in the circumstances of the case ... capital outlay which ought to be amortised over the concession period and cannot be treated as an intangible asset eligible for depreciation under section 32(1)(ii) of the Act. The DR further submitted that the Ld. CIT(A) has allowed the claim of the assessee merely by following

Mumbai International Airport Limited, Mumbai vs. Deputy Commissioner of Income Tax, Circle 2(2)(1), Mumbai

The appeal of the assessee is allowed for statistical purposes, whereas the appeal of the Revenue is dismissed

ITA 6692/MUM/2025[2014-15]Status: DisposedITAT Mumbai09 Mar 2026AY 2014-15

Bench: Shri Saktijit Dey & Shri Makarand V Mahadeokara.Y:2014-15 Mumbai International Vs. Dcit, Circle – 2(2)(1) Airport Ltd., Aayakar Bhavan, Mk Road 1St Floor, Terminal-1B, New Marine Lines, Mumbai – Chhatrpati Shivaji 400020. International Airport, Santacruz (E), Mumbai – 400099. Pan/Gir No. Aaecm6285C (Applicant) (Respondent) A.Y:2014-15 Dcit, Circle – 2(2)(1) Vs. Mumbai International Aayakar Bhavan, Mk Road Airport Ltd., New Marine Lines, Mumbai – 1St Floor, Terminal-1B, 400020. Chhatrpati Shivaji International Airport, Santacruz (E), Mumbai – 400099. Pan/Gir No. Aaecm6285C (Applicant) (Respondent) Assessee By Shri Saurabha Soparkar Virtually Appeared Revenue By Shri Annavaram Kosuri, Sr. Ar Date Of Hearing 25.02.2026 Date Of Pronouncement 09.03.2026 आदेश / Order Per Makarand V Mahadeokar, Am: These Cross Appeals Are Directed Against The Order Passed By The Commissioner Of Income Tax (Appeals) Under Section 250 Of The Mumbai International Airport Ltd., Mumbai Income-Tax Act, 1961 Dated 05.08.2025 In The Case Of The Assessee For Assessment Year 2014–15. The Assessment In The Present Case Was Originally Completed By The Assessing Officer Under Section 143(3) Of The Act Vide Order Dated 30.12.2017. Since The Issues Involved In The Appeals Of The Revenue As Well As The Assessee Arise Out Of The Same Appellate Order Of The Ld. Cit(A), These Appeals Were Heard Together & Are Being Disposed Of By Way Of This Common Order For The Sake Of Convenience & Brevity.

Section 143(3)Section 14ASection 250Section 28Section 32(1)(ii)Section 35D

civil structures forming part of the building and not functional tools of trade, and thereby allowing higher depreciation contrary to Explanation 1 to section 32(1)(ii) of the Income Tax Act, 1961? 8. Whether, on the facts and in the circumstances of the case ... capital outlay which ought to be amortised over the concession period and cannot be treated as an intangible asset eligible for depreciation under section 32(1)(ii) of the Act. The DR further submitted that the Ld. CIT(A) has allowed the claim of the assessee merely by following

M/S R. S. Shetye & Bros, Panaji vs. Assistant Commissioner of Income Tax, Circle -1(1), Panaji

In the result, the appeal filed by the assessee is partly allowed

ITA 37/PAN/2023[2016-17]Status: DisposedITAT Panaji27 Feb 2026AY 2016-17

Bench: Shri Pavan Kumar Gadale & Shri G D Padmahshalii T A. No.37/Pan/2023 (A.Y.2016-17) R.S.Shetye & Bros, Vs Acit 1(1), Flat.No.14, 1 St Floor, Aaykar Bhavan, . Trionara Apartments, Edc, Patto, New Muncipal Market, Panjim Panaji- Goa-403001. Goa-403001. Pan .No.Aabfr9785N (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent)

Section 3

patents, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature. Perhaps as a safeguard measure Explanation 3 to section 32(1) is pari-materia of section 2(11) to cover both tangible and intangible assets for depreciation. 37. Section 32

ACIT Central Circle 1(3), Ahmedabad vs. Unicorn Packaging LLP, Ahmedabad

In the result, this appeal of the Revenue is, accordingly, stands dismissed

ITA 898/AHD/2025[2020-21]Status: DisposedITAT Ahmedabad25 Feb 2026AY 2020-21

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinhaआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

For Appellant: Shri Aseem L. Thakkar, ARFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 32(1)Section 43(1)Section 43(6)(c)Section 49(1)(iii)Section 55(2)(a)

reasons elaborated by the A.O. in the assessment order." 2) "The Ld. CIT(A) has ignored the intricacies of 6th proviso to section 32(1), section 49(1)(iii)(e), Explanation 7 to section 43(1) and/or Explanation 2(b) to section 43(6)(c) and section ... same position should continue in the hands of the successor. The Assessing Officer also invoked the provisions of the fifth/sixth proviso to section 32(1), section 49(1)(iii)(e), Explanation 7 to section 43(1), Explanation 2(b) to section 43(6)(c) and section

ACIT Central Circle 1(3), Ahmedabad vs. Unicorn Packaging LLP, Ahmedabad

In the result, this appeal of the Revenue is, accordingly, stands dismissed

ITA 897/AHD/2025[2018-19]Status: DisposedITAT Ahmedabad25 Feb 2026AY 2018-19

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinhaआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

For Appellant: Shri Aseem L. Thakkar, ARFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 32(1)Section 43(1)Section 43(6)(c)Section 49(1)(iii)Section 55(2)(a)

reasons elaborated by the A.O. in the assessment order." 2) "The Ld. CIT(A) has ignored the intricacies of 6th proviso to section 32(1), section 49(1)(iii)(e), Explanation 7 to section 43(1) and/or Explanation 2(b) to section 43(6)(c) and section ... same position should continue in the hands of the successor. The Assessing Officer also invoked the provisions of the fifth/sixth proviso to section 32(1), section 49(1)(iii)(e), Explanation 7 to section 43(1), Explanation 2(b) to section 43(6)(c) and section

ACIT CC-1(3), Ahmedabad vs. Unicorn Packaging LLP, Ahmedabad

In the result, this appeal of the Revenue is, accordingly, stands dismissed

ITA 896/AHD/2025[2017-18]Status: DisposedITAT Ahmedabad25 Feb 2026AY 2017-18

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinhaआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

For Appellant: Shri Aseem L. Thakkar, ARFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 32(1)Section 43(1)Section 43(6)(c)Section 49(1)(iii)Section 55(2)(a)

reasons elaborated by the A.O. in the assessment order." 2) "The Ld. CIT(A) has ignored the intricacies of 6th proviso to section 32(1), section 49(1)(iii)(e), Explanation 7 to section 43(1) and/or Explanation 2(b) to section 43(6)(c) and section ... same position should continue in the hands of the successor. The Assessing Officer also invoked the provisions of the fifth/sixth proviso to section 32(1), section 49(1)(iii)(e), Explanation 7 to section 43(1), Explanation 2(b) to section 43(6)(c) and section

ACIT Central Circle 1(3), Ahmedabad vs. Unicorn Packaging Private Limited, Ahmedabad

In the result, this appeal of the Revenue is, accordingly, stands dismissed

ITA 895/AHD/2025[2016-17]Status: DisposedITAT Ahmedabad25 Feb 2026AY 2016-17

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinhaआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

For Appellant: Shri Aseem L. Thakkar, ARFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 32(1)Section 43(1)Section 43(6)(c)Section 49(1)(iii)Section 55(2)(a)

reasons elaborated by the A.O. in the assessment order." 2) "The Ld. CIT(A) has ignored the intricacies of 6th proviso to section 32(1), section 49(1)(iii)(e), Explanation 7 to section 43(1) and/or Explanation 2(b) to section 43(6)(c) and section ... same position should continue in the hands of the successor. The Assessing Officer also invoked the provisions of the fifth/sixth proviso to section 32(1), section 49(1)(iii)(e), Explanation 7 to section 43(1), Explanation 2(b) to section 43(6)(c) and section

ACIT Central Circle 1(3), Ahmedabad vs. Unicorn Packaging LLP, Ahmedabad

In the result, this appeal of the Revenue is, accordingly, stands dismissed

ITA 894/AHD/2025[2016-17]Status: DisposedITAT Ahmedabad25 Feb 2026AY 2016-17

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinhaआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

For Appellant: Shri Aseem L. Thakkar, ARFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 32(1)Section 43(1)Section 43(6)(c)Section 49(1)(iii)Section 55(2)(a)

reasons elaborated by the A.O. in the assessment order." 2) "The Ld. CIT(A) has ignored the intricacies of 6th proviso to section 32(1), section 49(1)(iii)(e), Explanation 7 to section 43(1) and/or Explanation 2(b) to section 43(6)(c) and section ... same position should continue in the hands of the successor. The Assessing Officer also invoked the provisions of the fifth/sixth proviso to section 32(1), section 49(1)(iii)(e), Explanation 7 to section 43(1), Explanation 2(b) to section 43(6)(c) and section

ACIT Central Circle 1(3), Ahmedabad vs. Unicorn Packaging LLP, Ahmedabad

In the result, this appeal of the Revenue is, accordingly, stands dismissed

ITA 893/AHD/2025[2016-17]Status: DisposedITAT Ahmedabad25 Feb 2026AY 2016-17

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinhaआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

For Appellant: Shri Aseem L. Thakkar, ARFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 32(1)Section 43(1)Section 43(6)(c)Section 49(1)(iii)Section 55(2)(a)

reasons elaborated by the A.O. in the assessment order." 2) "The Ld. CIT(A) has ignored the intricacies of 6th proviso to section 32(1), section 49(1)(iii)(e), Explanation 7 to section 43(1) and/or Explanation 2(b) to section 43(6)(c) and section ... same position should continue in the hands of the successor. The Assessing Officer also invoked the provisions of the fifth/sixth proviso to section 32(1), section 49(1)(iii)(e), Explanation 7 to section 43(1), Explanation 2(b) to section 43(6)(c) and section

ACIT Central Circle 2(3), Ahmedabad vs. Intas Pharmaceuticals Limited, Ahmedabad

In the result, the appeal of the Revenue is dismissed

ITA 1842/AHD/2024[2016-17]Status: DisposedITAT Ahmedabad24 Feb 2026AY 2016-17

Bench: Ms. Suchitra R. Kamble & Shri Narendra Prasad Sinhaasst. Commissioner Of M/S. Intas Pharmaceuticals Ltd., Vs. Income-Tax, Corporate House, S.G. Highway, Central Circle 2(3), Nr. Sola Bridge, Thaltej, Ahmedabad Ahmedabad-380 054 [Pan : Aaaci 5120 L] (Appellant) .. (Respondent) Appellant Represented By : Shri Sher Singh, Cit (Dr) Respondent Represented By: Shri S. N. Soparkar, Sr. Advocate & Ms. Urvashi Sodhan, Ar Date Of Hearing 07.01.2026 Date Of Pronouncement 24.02.2026 O R D E R Per Ms. Suchitra R. Kamble:-

Section 250

Zydus Wellness Ltd. [(2017) 87 taxmann.com 82], the CIT(A) held that goodwill qualifies as an intangible asset under Explanation 3(b) to section 32(1) and is eligible for depreciation. The CIT(A) also noted that the SLP filed by the Department against Zydus Wellness Ltd. was dismissed ... commercial rights of similar nature” as ACIT Vs. Intas Pharmaceuticals Ltd Asst. Year : 2016-17 - 12– appearing in Explanation 3(b) to section 32(1) and is therefore eligible for depreciation. The statute does not require such rights to arise only from external dealings or unrelated parties. Once the transaction

Rubber King Tyre Private Limited, Ahmedabad, Gujarat vs. DCIT, 3(1)(2), Ahmedabad, Gujarat

In the result, the appeal of the assessee is allowed for statistical purpose

ITA 145/AHD/2026[2017-18]Status: DisposedITAT Ahmedabad20 Feb 2026AY 2017-18

Bench: Shri Tr Senthil Kumar & Shri Narendra Prasad Sinhaassessment Years: 2017-18

Section 143(3)Section 32Section 32(1)Section 43(1)Section 43(6)

wrongly by invoking Explanation-7 to section 43(1) and/or Explanation 2 (b) of section 43(6) as well as fifth proviso to section 32(1) and other provisions of Income tax Act 3. The learned Commissioner of Income tax (Appeals) National Faceless Appeal Centre (NFAC), Delhi has erred

ACIT, CC 6(2), Mumbai vs. Overseas Infrastructure Alliance (India) Private Limited, Mumbai

In the result, appeal by the assessee is allowed

ITA 4321/MUM/2025[2016-17]Status: DisposedITAT Mumbai20 Feb 2026AY 2016-17

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

assessee is eligible to claim depreciation on such vacant premises. Depreciation is mandatory allowance under the Act as per explanation 5 to section 32(1). Once it is established and accepted in the earlier years that the building is used for the business purposes and has entered the block ... assets, depreciation has to be allowed to the assessee as per provisions of explanation 5 to section 32(1) being a mandatory allowance. Assessee further submitted that depreciation being a mandatory allowance is allowable even in the case Overseas Infrastructure Alliance (India

ACIT, CC 6(2), Mumbai vs. Overseas Infrastructure Alliance (India) Private Limited, Mumbai

In the result, appeal by the assessee is allowed

ITA 4320/MUM/2025[2020-21]Status: DisposedITAT Mumbai20 Feb 2026AY 2020-21

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

assessee is eligible to claim depreciation on such vacant premises. Depreciation is mandatory allowance under the Act as per explanation 5 to section 32(1). Once it is established and accepted in the earlier years that the building is used for the business purposes and has entered the block ... assets, depreciation has to be allowed to the assessee as per provisions of explanation 5 to section 32(1) being a mandatory allowance. Assessee further submitted that depreciation being a mandatory allowance is allowable even in the case Overseas Infrastructure Alliance (India

ACIT, CC 6(2), Mumbai vs. Overseas Infrastructure Alliance (India) Private Limited, Mumbai

In the result, appeal by the assessee is allowed

ITA 4319/MUM/2025[2019-20]Status: DisposedITAT Mumbai20 Feb 2026AY 2019-20

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

assessee is eligible to claim depreciation on such vacant premises. Depreciation is mandatory allowance under the Act as per explanation 5 to section 32(1). Once it is established and accepted in the earlier years that the building is used for the business purposes and has entered the block ... assets, depreciation has to be allowed to the assessee as per provisions of explanation 5 to section 32(1) being a mandatory allowance. Assessee further submitted that depreciation being a mandatory allowance is allowable even in the case Overseas Infrastructure Alliance (India

ACIT, CC-6(2), Mumbai vs. Overseas Infrastructure Alliance (India) Private Limited, Mumbai

In the result, appeal by the assessee is allowed

ITA 4318/MUM/2025[2022-23]Status: DisposedITAT Mumbai20 Feb 2026AY 2022-23

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

assessee is eligible to claim depreciation on such vacant premises. Depreciation is mandatory allowance under the Act as per explanation 5 to section 32(1). Once it is established and accepted in the earlier years that the building is used for the business purposes and has entered the block ... assets, depreciation has to be allowed to the assessee as per provisions of explanation 5 to section 32(1) being a mandatory allowance. Assessee further submitted that depreciation being a mandatory allowance is allowable even in the case Overseas Infrastructure Alliance (India

ACIT, CC 6(2), Mumbai vs. Overseas Infrastructure Alliance (India) Private Limited, Mumbai

In the result, appeal by the assessee is allowed

ITA 4090/MUM/2025[2016-17]Status: DisposedITAT Mumbai20 Feb 2026AY 2016-17

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari andFor Respondent: Shri R. A. Dhyani, CIT DR and
Section 1

assessee is eligible to claim depreciation on such vacant premises. Depreciation is mandatory allowance under the Act as per explanation 5 to section 32(1). Once it is established and accepted in the earlier years that the building is used for the business purposes and has entered the block ... assets, depreciation has to be allowed to the assessee as per provisions of explanation 5 to section 32(1) being a mandatory allowance. Assessee further submitted that depreciation being a mandatory allowance is allowable even in the case 16 ITA No. 4043/Mum/2025 and others Overseas Infrastructure Alliance (India