2019 (2) TMI 1934

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....THY, J. This appeal by the Revenue is directed against the order of Commissioner of Income Tax (Appeals)-13, Pune dated 29-07-2016 for the assessment year 2011-12. 2. The solitary issue in appeal is : Whether the assessee is eligible to claim depreciation on "license to collect toll‟ considering it as an intangible asset in terms of section 32(1)(ii) of the Income Tax Act, 1961 (h....

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....a depreciable intangible asset. Against the said findings of Commissioner of Income Tax (Appeals), the Revenue is in appeal. 4. Shri K. Venkata Chalam appearing on behalf of the assessee vehemently defended the order of Commissioner of Income Tax (Appeals) and further draws strength by placing reliance on the following decisions of Tribunal : i. ACIT Vs. Ashoka Infraways (P.) Ltd., 33 ....

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....ame. We find that consistent view has been taken by the Tribunal in various other cases where depreciation has been claimed on "right to collect toll‟, considering it to be an intangible asset. The Hyderabad Special Bench of the Tribunal in the case of ACIT Vs. M/s. Progressive Construction Limited reported as 191 TTJ 549 has held that National Highway constructed on BOT basis gives rise to ....