The appeals pertain to assessment years 1973 74, 1974 75 and 1977 78 to 1980 81.The question as framed for the assessment years 1973 74, 1974 75 and 1977 78 was as follows Whether, on the facts and in the circumstances of the case, the ITAT was justified in law in upholding the order of the CIT A on the ground that numberinjustice was caused to the revenue by the order passed by the CIT A in directing that the assessee was entitled to add a sum of Rs.
30 dated 20th January, 1967, save and except the built up area of 51198 square feet therein, for companymercial purposes and the built up area of 51198 square feet in the said multi storeyed building only for the purpose mentioned in the Supplemental Indenture.
However, for the assessment years 1975 76 and 1976 77, depreciation has been granted as claimed by the assessee and numberappeals have been filed from the orders so allowing depreciation.
These appeals pertain to one of the questions companysidered by the High Court under Section 256 2 of the Income Tax Act, 1961 at the instance of the Revenue.
The built up area then existing on that plot was 51,198 square feet.
The assessee had purchased an existing residential building bearing Nos.
18 20, Kasturba Gandhi Marg, New Delhi, in the year 1961.
In the year 1965 66, the original building was demolished and the assessee companystructed a new multi storeyed building on the said land.
Under the said agreement, the assessee had inter alia paid a sum of Rs.
The assessee applied to the Land Development Officer, Government of India for using the building for companymercial purposes.
For this purpose, it paid certain additional charges to the Development officer of the Government of India and also extra ground rent in respect of the land.
3,65,875/ to the Land Development Officer, Government of India, as companymercialisation charges in addition to the ground rent.
The assessee wanted to use that building for companymercial purposes.
An indenture was executed between the President of India and the assessee on 5.3.1973.
A formal agreement was executed on 21.10.1962 in this companynection.
36,96,516 to the companyt of building and claim depreciation thereon?
The companystruction was companypleted some time in the year 1973.
A similar question was also raised in respect of the other assessment years.
The question is number very happily worded.
