2024 (2) TMI 390

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.... the assessment year 2014- 15, which decided the appeal filed by the Assessee against Assessment order passed under section 143(3) of the Income Tax Act, 1961 (the Act) on 28.12.2016 by Assistant Commissioner of Income Tax, Circle 14(1)(1), Mumbai (Ld. AO). 2. During the course of appeal assessee raised the additional ground before ld CIT (A) pertaining to the claim of allowance of depreciation at the rate of 25% treating to right to collect the toll on the road under the category as intangible asset under section 32(1)(ii) of the Act. Vide Para No.5.3, the Ld. CIT (A) did not admit the same holding that this was not raised by the Ld. AO during the assessment proceedings or at the time of filing of the appeal hence, it was dismissed. 3. A....

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....he AY 2005-06 and AY 2006-07, ITA No. 4160 & 4161/MUM/2013 for the AY 2008-09 and AY 2009-10, 1230/MUM/2015 for the AY 2010-11. 5. The brief facts of the case shows that the Assessee is a Public Limited company engaged in the business of infrastructure development project. It filed its return of income on 30.11.2014 as total income of Rs. 13,04,73,586/-. The return of income was picked up for scrutiny. The claim of the Assessee for deduction under section 80IA (4) amounting of Rs. 19,26,32,423/- was examined. The same was allowed to the extent of Rs. 19,24,97,698/-. During the assessment proceedings as well as in the return of income, the Assessee has claimed amount of deduction on expenditure on road constructed for which right to collect....