2017 (9) TMI 1912 - SC - Income Tax

Allowability of depreciation on toll road - ownership - When a person like the Assessee who is in the business of infrastructure development in execution of such agreement constructs a road and on Build, Operate and Transfer (BOT) basis on the land owned by the Government, can it claim depreciation on the toll road - HC held Merely, because the road is laid out does not mean that the Assessee is the owner thereof. He has laid it out for the purpose of the union and for its ultimate vesting in the public - HELD THAT - In all the matters numbered above, service is complete. Ld. Counsel for the parties have failed to file the statement of case within the statutory period. Filing of Statement of Case is not mandatory as per amended Supreme Court Rules, 2013. Viewed thus, the matters shall be processed for listing before the Hon'ble Court under the rules.

Summary

The Supreme Court of India ruled that filing a Statement of Case is not mandatory as per the amended Supreme Court Rules, 2013. The matters will be processed for listing before the Honorable Court under the rules.