2022 (1) TMI 1273

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....Revenue : Shri Mohit Jain ORDER PER R.S. SYAL, VP: These three appeals by the Revenue are directed against the consolidated order dated 13-06-2018 passed by the CIT(A)-12, Pune in relation to the assessment years 2012-13 to 2014-15. Since a common issue is raised in these appeals, we are, therefore, proceeding to dispose them off by this consolidated order for the sake of convenience. ....

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....Road which was developed by it on BOT basis was not owned by it. On being confronted, the assessee submitted that the expenditure incurred by it on constructing and maintenance of road facility was actually incurred towards "Acquiring right to collect toll" which formed an `Intangible asset' eligible for depreciation u/s.32(1)(ii) of Act. Not convinced, the AO made disallowance of depreciation of ....

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....0-11 and 2011-12. Vide order dated 29-11-2017, the Tribunal in ITA Nos. 379 & 380/PUN/2016 dealt with such issue and held the assessee to be eligible for depreciation on the "Right to collect toll", being, an intangible asset. The Tribunal, in turn, followed another order of the Coordinate Bench in Ashoka Highways (Bhandara) [ITA No.1299/PUN/2015] which held that the cost of constructing road was ....