https://www.taxtmi.com/highlights?id=67997 Revision u/s 263 by CIT - Depreciation on road and toll bridge constructed by the assessee - Tribunal has erred in concluding that the Assessing Officer has taken one of the plausible view before for the benefit of depreciation at 25% on “Toll Road” as “Plant”. - In our view, such view was not plausible as “ Toll Roads’ under the concessionaire agreement neither conferred upon the said assessee any “Tangible Assets” nor “Intangible Assets” - Decided in favor of revenue. - HC en-us Wed, 01 Feb 2023 08:56:23 +0530 Wed, 01 Feb 2023 08:56:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=67997 Revision u/s 263 by CIT - Depreciation on road and toll bridge constructed by the assessee - Tribunal has erred in concluding that the Assessing Officer has taken one of the plausible view before for the benefit of depreciation at 25% on “Toll Road” as “Plant”. - In our view, such view was not plausible as “ Toll Roads’ under the concessionaire agreement neither conferred upon the said assessee any “Tangible Assets” nor “Intangible Assets” - Decided in favor of revenue. - HC Highlights Income Tax Wed, 01 Feb 2023 08:56:23 +0530 https://www.taxtmi.com/highlights?id=67997