https://www.taxtmi.com/caselaws?id=296515 The Tribunal upheld the decision to allow depreciation on project assets at the building rate based on precedent, dismissing the Revenue's appeal. The issue of amortization of project cost was deemed irrelevant and dismissed for statistical purposes. The Tribunal determined that the decision in the assessee's previous case applied, rejecting the Revenue's argument that it was not final due to a pending appeal before the High Court. The Assessing Officer's disallowance of depreciation on project assets was overturned, with the Tribunal directing to allow depreciation on the road at the building rate. en-us Mon, 20 Feb 2012 00:00:00 +0530 Sat, 24 Jul 2021 12:13:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296515 The Tribunal upheld the decision to allow depreciation on project assets at the building rate based on precedent, dismissing the Revenue's appeal. The issue of amortization of project cost was deemed irrelevant and dismissed for statistical purposes. The Tribunal determined that the decision in the assessee's previous case applied, rejecting the Revenue's argument that it was not final due to a pending appeal before the High Court. The Assessing Officer's disallowance of depreciation on project assets was overturned, with the Tribunal directing to allow depreciation on the road at the building rate. Case-Laws Income Tax Mon, 20 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296515