2026 (3) TMI 365

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....M. BALAGANESH, A. M.: 1. The appeal in ITA No.2896/Del/2025 for AY 2016-17, arises out of the order of the Jt. Commissioner of Income Tax (Appeals)-1, Chandigarh [hereinafter referred to as 'ld. JCIT(A)', in short] in Appeal No. ITBA/APL/S/250/2024-25/1073351291(1) dated 17.02.2025 against the order of assessment passed u/s 143(3) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act....

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....oad project of Gwalior Bypass in the State of Madhya Pradesh on Design, Build, Finance, Operate and Transfer (DBOT) basis. The Assessee placed on record the copy of the Concessionare Agreement entered into between the Assessee and the National Highway Authority of India in its paper book. According to the terms of the Concessionare Agreement, fixed annuity of Rs. 26.53 crores was to be received by....

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....me at Rs. 55,05,95,912/- wherein the depreciation claim of Rs. 44,39,58,893/- claimed on the highway project expenditure was disallowed and instead granted amortization of Rs. 38,46,29,754/- was allowed by referring to CBDT Circular 9 /2014 thereby resulting in net addition of Rs. 5,93,29,139/- to the returned income. 4. The case of the revenue is that the Assessee is not entitled to depreciati....

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....l in the case of Progressive Constructions Limited reported in 161 DTR 289 (Hyderabad Tribunal) (SB) and also by the decision of this Tribunal in Assessee's own case for assessment year 2014-15 in ITA No. 5555/Del/2018 dated 02-12-2022 and for assessment year 2015-16 in ITA No. 1297/Del/2019 dated 26-07-2022. We find that the Assessee during the year had claimed depreciation on Highway projects on....