2019 (2) TMI 368

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..... It is further observed that similar view has been taken by the Special Bench of the Tribunal in ACIT Vs. Progressive Construction Limited [2017 (3) TMI 1167 - ITAT HYDERABAD]. DR, except for relying on the order of the AO, could not place any material on record to demonstrate that the order passed by the Tribunal in the case of the assessee’s sister concern has been reversed or modified by the .....

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..... for the sake of convenience. 2. The only issue in these appeals is against granting of depreciation on the asset Right to Collect Toll . 3. Briefly stated, the facts of the case, are that the assessee, namely, M/s. Ashoka Highways (Durg) Limited claimed depreciation of ₹ 138.53 crore @ 25% on the asset termed as License to Collect Toll , being an intangible asset amounting to ₹ .....

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..... claim of depreciation of ₹ 82,45,42,988/- was made, which was denied by the AO, but allowed by the ld. CIT(A). 5. Before us, there is no appearance from the side of the Respondent-assessee. However, hearing the ld. DR, considering the written submissions and the factual matrix of the case, we proceed to adjudicate the appeals on the basis of material available on record. 6. It is obse .....

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