https://www.taxtmi.com/caselaws?id=399629 The Department's appeal was dismissed, and the assessee's cross-objection was partly allowed. The Tribunal upheld the CIT (A)'s decision to delete the disallowance of Rs. 3,00,49,000 and allowed the depreciation on the license fee paid to Indian Railways, treating it as an intangible asset. The reopening of the assessment was dismissed as not pressed. The enhancement of assessment by Rs. 2,50,00,000 was linked to the depreciation issue and resolved in favor of the assessee. en-us Wed, 30 Sep 2020 00:00:00 +0530 Sat, 13 Mar 2021 13:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399629 The Department's appeal was dismissed, and the assessee's cross-objection was partly allowed. The Tribunal upheld the CIT (A)'s decision to delete the disallowance of Rs. 3,00,49,000 and allowed the depreciation on the license fee paid to Indian Railways, treating it as an intangible asset. The reopening of the assessment was dismissed as not pressed. The enhancement of assessment by Rs. 2,50,00,000 was linked to the depreciation issue and resolved in favor of the assessee. Case-Laws Income Tax Wed, 30 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399629