2021 (4) TMI 701

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....Mr. Dhiraj Kumar Trivedi, Adv. Mr. M. N. Bandopadhyay, Adv. ...For the Respondents The Court : This is an application under Section 226 of the Constitution of India wherein the writ petitioner is aggrieved by an order dated March 4, 2021 passed by the Assistant Commissioner of Income Tax, Circle 7(1), Kolkata disposing of the objections filed by the assessee with regard to reopening of assessment....

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....nt of roads/highways, he is entitled to recover cost incurred by him towards development of such facility (comprising of construction cost and other pre-operative expenses) during the construction period. Further, expenditure incurred by the assessee on such BOT projects brings to it an enduring benefit in the form of right to collect the roll during the period of the agreement. Hon'ble Supreme Co....

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....zed and claimed as allowable business expenditure under the Act." Mr. Banerjee further submitted that since the assessee was entitled to deduction under Section 80IA of the Income Tax Act, 1961, there was no question of any escapement of tax as increase in income by not claiming amortization would not result in the assessee paying any further tax as the same was 100% deductible under Section 80IA....

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.... not have any right for collecting toll, this circular is not applicable to the assessee. Mr. Trivedi, Learned Senior Counsel further relies on the impugned order and submits that all the objections of the petitioner have been taken care of. Upon perusal of the document, I find that the impugned order does not address the issue in relation to the tax neutrality because of the fact that the asses....