1998 (4) TMI 123

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..... MARUTHI J.---This is a reference at the instance of the assessee. The assessee is a public sector undertaking wholly owned by the Government of Andhra Pradesh. The Andhra Pradesh Industrial Development Corporation constructed a building known as "Parisrama Bhavan". The assessee purchased two floors in the said building. Full consideration was paid to the Government. However, the conveyance deed t .....

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..... as entitled to depreciation on building purchased by it from Andhra Pradesh Industrial Development Corporation?" The issue involved in this case is now covered by a judgment of the Supreme Court in CIT v. Podar Cement Pvt. Ltd. [1997] 226 ITR 625, wherein it was held : "The liability to pay income-tax as owner is on the person who receives or is entitled to receive the income from the property i .....

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