https://www.taxtmi.com/caselaws?id=408471 The tribunal upheld the CIT(A)'s decisions, dismissing the Revenue's appeals on three issues: denial of depreciation claim, disallowance of provision for periodical maintenance, and disallowance of interest payment converted into FITL. The tribunal recognized the right to collect toll as an intangible asset, validated provisions for periodic maintenance based on contractual obligations, and deemed the conversion to FITL as constructive payment. The decisions were in line with established legal precedents and interpretations of the Income Tax Act, affirming the assessee's positions in all three matters. en-us Wed, 09 Jun 2021 00:00:00 +0530 Thu, 10 Jun 2021 19:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408471 The tribunal upheld the CIT(A)'s decisions, dismissing the Revenue's appeals on three issues: denial of depreciation claim, disallowance of provision for periodical maintenance, and disallowance of interest payment converted into FITL. The tribunal recognized the right to collect toll as an intangible asset, validated provisions for periodic maintenance based on contractual obligations, and deemed the conversion to FITL as constructive payment. The decisions were in line with established legal precedents and interpretations of the Income Tax Act, affirming the assessee's positions in all three matters. Case-Laws Income Tax Wed, 09 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408471