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TMI Blog2018 (9) TMI 1467X X X X Extracts X X X X X X X X Extracts X X X X ..... rn M/s. Selvel Advertising Pvt. Ltd. wherein the Tribunal for AY 2004-05. Therefore, the issue is no longer res integra and the view taken by the AO is as per the Tribunal as well as the Hon’ble High Court’s order, therefore, the action of the AO cannot be held to be erroneous so far as prejudicial to the interest of revenue and, therefore, we hold that Ld. Pr. CIT lacks revisional jurisdiction to interfere on this issue and therefore erred in doing so. Depreciation of hoarding structure @ 100% - CIT observed that the said structure was used for less than 180 days and, therefore, the assessee is entitled to depreciation @ 7.5% (50% of 15%) instead of 100% - Held that:- According to us, the view taken by the AO cannot be faulted with and, therefore, the Ld. Pr. CIT erred in holding the AO’s action of allowing the claim of 100% depreciation as erroneous so far as prejudicial to the interest of the revenue. Since we note that the hoardings being temporary structures are eligible for 100% depreciation as held by this Tribunal in assessee’s sister concern M/s. Selvel Advertising Pvt. Ltd. therefore, the view taken by the AO is a possible view and, therefore, Pr. CIT erred in invok ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase assessment was completed u/s 143(3) of the I. T. Act, 1961 on 17.03.2015 by the DCIT, Circle-12(2), Kolkata determining assessed income as Nil. 2. On perusal of the assessment records, it is seen that the assessee company in his computation of income audited accounts claimed deduction u/s 80IA of the I. T. Act, 1961 on infrastructure facility rendered in respect of bus shelter, toilet block and foot over-bridges installed within no. of cities under contract with the concerned municipal authorities. 3. On examination of the case, it is seen that the assessee during the relevant previous year 2011-12 was engaged in the business of outdoor advertising which means that the assessee was not engaged in the business which could be admitted as the assessee was engaged in infrastructure development. Moreover, the construction and maintenance of the bus shelter, toilet block, foot over-bridges should not be prima-facie treated as 'road' within the meaning of explanation to sub-clause (c) of Clause (i) of sub section(4) of the section 80IA of the Income Tax Act, 1961. 4. However, the assessee claimed depreciation of hoarding structure @ 100% but since the hoa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lkata] wherein the assessee replied to the query of AO in detail and justified the claims for seeking deduction of a sum of ₹ 1,91,10,791/- u/s. 80IA of the Act (which we note continues from page 79 to 82 of the paper book). And it was brought to the notice of the AO that the Ld. CIT(A) had decided this issue in favour of the assessee for AY 2008-09 and 2010-11 and in the case of the assessee s sister concern namely, M/s Selvel Advertising Pvt. Ltd. and also that the Tribunal s decision on this issue in assessee s own case for AY 2005-06 onwards which was held in favour of assessee. We note that since the issue has been enquired into by the AO and after taking note of the submissions, documents and decision given by the Ld. CIT(A) and the Tribunal in assessee s own case on the very issue regarding justification for claiming deduction u/s. 80IA of the Act, according to us, the AO has taken a view which is a plausible view and which action of the AO cannot be termed as erroneous so far as prejudicial to the interest of the revenue. It was brought to our notice by the Ld. AR that the Tribunal s decision in assessee s own case on the issue from AYs 2005-06 to 2011-12 is in favour ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me-tax Appellate Tribunal is correct in holding that automatic traffic signal and pedestrian foot bridge would constitute infrastructure facility defined in clause (a) of Explanation below sub-section (4) of section 80- IA of the Income-tax Act, 1961 Since, we are inclined to take the view that the Tribunal was right in holding that the automatic traffic signal and pedestrian foot bridge would constitute infrastructure facility as contemplated in clause (a) of the explanation to sub section (4) of Section 80-IA of the Income Tax Act, 1961, it is not necessary to answer question no. 1. Section 80-IA provides that where the gross total income of an assessee includes any profit and gains derived by an undertaking or an enterprise from any business referred to in sub-section (4) (such business being hereinafter referred to as the eligible business ), there shall, in accordance with and subject to the provisions of this section, be allowed, in computing the total income of the assessee, a deduction of an amount equal to hundred per cent of the profits and gains derived from such business for ten consecutive assessment years. The relevant portion of sub-section (4) re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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