TaxTMI 
TaxTMI 
2018 (3) TMI 1912
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....he appeals filed by the Revenue relating to assessment years 2005-06 to 2010-11. 2. The appeals filed by Revenue and the Cross-Objections filed by the assessee were heard together and are being disposed of by this consolidated order for the sake of convenience. However, in order to adjudicate, we are referring to the facts and issue in ITA No.60/PUN/2016 and C.O.No.114/PUN/2017. 3. The Revenue in ITA No.60/PUN/2016 has raised the following grounds of appeal : "1. On the facts and circumstances of the case and in law the ld. CIT(A) has erred in deleting in allowing the depreciation at 25% on 'Licence to collect toll'. 2. On the facts and circumstances of the case and in law the ld. CIT(A) was justified in holding that assessee was elig....
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..... However, the issue arising in the present appeal is squarely covered by the series of the decisions of the Tribunal and also the case of the assessee itself. Hence, we proceed to dispose of the present bunch of appeals and CrossObjections after hearing the Ld.D.R. for the Revenue. 6. Briefly in the facts of the case, the assessee had originally filed the return of income declaring nil. The assessee was engaged in infrastructure development and maintenance of toll stations. The holding company M/s. Ashoka Buildcon was awarded the construction of Dewas By-pass starting from k.m 159/4 of Bhopal- Ujjain Road (SH-18) and joining km 577/6 of Agra Bombay Road, (N.H.3) intersecting NH-3 in km 567/8 and SH 18 in km 151/8 (total length - 19.8 kms)....
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....Officer in the original assessment had denied the claim of depreciation on the right to collect toll holding the same not to be an intangible asset. However, the Commissioner of Income Tax (Appeals) reversed the order of Assessing Officer. 7. Search and seizure action under Section 132 of the Act was carried out in the Ashoka Group of cases on 20.04.2010. During the course of search, incriminating documents pertaining to the assessee company were seized from the searched premises of M/s. Ashoka Buildcon Ltd. The proceedings were initiated against the assessee under Section 153C of the Act. In response to notice issued by the Assessing Officer under Section 153C of the Act, the assessee filed return of income declaring total income at ....
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....ee and also directed the Assessing Officer to withdraw the reduction allowed on amortization of costs for assessment year 2005-06. 9. The Revenue is in appeal against the order of Commissioner of Income Tax (Appeals). On perusal of the records, we find that the assessment in the present case was completed under Section 153C of the Act r.w.s. 143(3) of the Act. Though, the assessee did not put in an appearance before the Tribunal, however, the assessee has filed the Paper Book which is available on record. The issue which is raised in the appeal of Revenue is against the claim of depreciation on the right to collect toll, being an intangible asset. The Assessing Officer was of the view that no such depreciation was allowable. Whereas, the C....