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Depreciation on tenancy rights

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 April 2012 can Depreciation be claimed on Tenancy Rights under Income Tax Act
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
07 April 2012 No.
Citation :- M. M. Nissim & Co Vs. ACIT (2007) 18 SOT 274 (Mum - Tri).
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
07 April 2012 Tenancy rights only give right to the assessee to occupy and use the premises taken on rent and the said right cannot be considered as any business or commercial right which can be exploited for the purpose of its business.
M/s Fem care Pharma Ltd.v. ACIT-(I.T.A. No.2123/Mumbai/2010)
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