2010 (11) TMI 1040

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....ilar facts as well as identical issue, therefore being disposed of by this single order for the sake of convenience. 3. In these appeals, the Department has raised, in all, three common grounds, ground No.1 is general and ground 3 is prayer part and effective grounds 2 and 2.1 read as under: "2. The ld. CIT(A) has erred in allowing the depreciation claim of the assessee on 'project assts' at the rate of 10% applicable to building. 2.1 It is submitted that the decision of the ITAT, Chennai in the case of Tamil Nadu Road Development Company Limited in I.T.A. Nos. 2082/Mds/2008 and 817/Mds/2007 relied on by the CIT(A) has not become final as the Revenue has preferred further appeal before the Hon'ble High Court....

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....his order which read as under: "5.4 I have carefully considered the facts of the case and the submissions of the ld. AR. I have also gone through the decisions relied on by the AO and AR. The appellant company has been incorporated to undertake development of infrastructural facilities and has developed a by-pass road and a bridge on NH 47 near Coimbatore. The appellant has entered into a concession agreement with the Government of India and Government of Tamil Nadu to develop the project on Build-Operate-Transfer (BOT) basis. I have perused the concession agreement and the relevant clauses contained therein. I find that the facts of the appellant are similar to the case of Tamil Nadu Road Development Company Ltd. (supra) for A.Ys.....

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.... to amortization of project cost. As the earlier issue on depreciation has been decided in favour of the appellant, this issue becomes infructuous and does not require adjudication. The ground is accordingly dismissed for statistical purpose." 5. Aggrieved by the orders of the ld. CIT(A), the Department has come up in appeal and at the very outset, the ld. Counsel for the assessee, while filing copy of the order of the Tribunal 'C' Bench in the case of M/s. Tamil Nadu Road Development Company Ltd in I.T.A. No. 2082/Mds/2008 & 817/Mds/2007 for the assessment year 2003-04 and 04-05 dated 24.10.2008 has pleaded that the ld. CIT(A) has decided the issue in favour of the assessee by following the above noted decision and such order of....