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TMI Blog2023 (1) TMI 1156X X X X Extracts X X X X X X X X Extracts X X X X ..... nue s stand as the very same issue had arisen between these parties in earlier AYs, more particularly in Revenue s appeal [ 2022 (8) TMI 561 - ITAT PUNE ] Co-ordinate bench has adjudicated the matter against the Revenue and in favour of the assessee Revenue is fair enough in its pleadings and not pin-pointing any distinctive facts or law in all these assessment years so far as the assessee s treatment of its right to collect toll as an intangible asset u/s 32(1)(ii) is concerned, consequently we see no reason to deviate from the aforesaid decision of the Co-ordinate bench. Appeals of the Revenue is dismissed. - ITA No. 591/PUN/2022 ITA No. 592 & 593 /PUN/2022 - - - Dated:- 18-1-2023 - HON BLE SHRI S.S. GODARA , JUDICIAL MEMBER AND SH ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to claim depreciation on License to collect toll considering it as an intangible asset in terms of section 32(1)(ii) of the Act. 3. On the facts and circumstances of the case and in law the ld.CIT(A) has failed to appreciate that the department has not accepted the decision of the ITAT, Pune and an appeal for AY 2010-11 2011-12 has been filed under Section 260A of the Act before the Hon ble Bombay High Court. 4. The appellant craves to add, amend or delete any of the above . 4. Without articulating the facts of the case, it shall suffice to voice that, the Revenue s sole and substantive grievance raised in the instant appeal challenges correctness of the Ld. CIT(A) s action of reversing the findings of Ld. AO in disa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Right to Collect Toll qualifies as intangible asset as defined under clause (ii) of sub-section (1) of section 32 of the Act. There is no dispute about the cost of acquisition. The only dispute is with regard to the true nature of the rights acquired in terms of the contract awarded by the NHAI. The relevant provisions of section 32(1)(ii) are extracted herein below for ready reference:- Depreciation. 32. (1) In respect of depreciation of- (i) . (ii) know-how, patents, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature, being intangible assets acquired on or after the 1st day of April, 1998, [not being goodwill of a business or profession,] 8. Now the q ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ITR 400 have no application to the facts of the present case, inasmuch as, the decision in the said two cases relates to the allowability of depreciation on roads treating as building . In the circumstances, we do not find any illegality in the order of the ld. CIT(A). Accordingly, we do not find any merit in the appeal filed by the Revenue. Hence, the grounds of appeal raised by the Revenue are dismissed. 7. As we note that, the Revenue is fair enough in its pleadings and not pin-pointing any distinctive facts or law in all these assessment years so far as the assessee s treatment of its right to collect toll as an intangible asset u/s 32(1)(ii) is concerned, consequently we see no reason to deviate from the aforesaid decision of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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