RAMAMURTHY PRAVEEN CHANDRA,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, we have allowed grounds raised by the assessee as per above terms for all the years

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

depreciation benefit available to the assessee though the cost of land increases and he may sell the land. Therefore R & R expenditure debited in the P & L Account was treated as capital expenditure instead of revenue expenditure as claimed by the assessee and addition was made in the Assessment Order under section 143(3) r.w.s. 153C