Depreciation on tenancy rights

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Querist : Anonymous

Querist : Anonymous (Querist)

07 April 2012 can Depreciation be claimed on Tenancy Rights under Income Tax Act

Bhaskaran Chackrapani Warrier

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

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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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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