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| The Tax Publishers2020 TaxPub(DT) 2098 (Del-Trib) : (2020) 185 ITD 0040 : (2020) 080 ITR (Trib) 0580 INCOME TAX ACT, 1961
Section 32(1)
Where golf course owned by assessee was used by it as a business tool and it was functioning like a plant in case of the assessee, such golf course would be eligible for depreciation @15%.
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Depreciation - Allowability - Golf course - Golf course being used as a business tool
Assessee-company was engaged in business of operation of golf course. It claimed depreciation on golf course @15% considering it as 'plant and machinery'. AO denied the depreciation for the reason that as the golf course was developed on the land and whatever improvement was made on that land, it remained as a land, which was not depreciable. Held: In assessee's own case of earlier assessment year on identical issue, the Tribunal considered the golf course as plant and machinery eligible for depreciation @15% on the ground that the golf course was used by assessee as its business tool and it was functioning like a plant in case of the assessee. In view of the same, the assessee's claim of depreciation on golf course @15% was allowed.
Followed:Landbase India Ltd v. DCIT 2019 TaxPub(DT) 5899 (Del-Trib)
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
INCOME TAX ACT, 1961
Section 4
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