2018 (6) TMI 1583

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....ain, Sr.Standing Counsel with Mr.Deepak Anand, Jr.Standing Counsel for Revenue. ORDER Admit. The following two questions of law are framed for consideration:- "1. Did the Income Tax Appellate Tribunal (ITAT) fall into error in upholding the disallowance of the depreciation claimed to the extent of Rs. 5,10,79,752/- on account of asset reconstruction cost in holding that it was a contingent lia....

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..... At the relevant time, it sought to install cell-site towers claiming that they would merely improve its efficiency. The lower authorities discerned that materials on record clearly show that the object of such exercise was to reach the greater number of customers and thus increase subscriber base. In these circumstances, the finding of the lower authorities cannot be faulted. No substantial ques....