9911796707
TMI Blog2024 (2) TMI 390X X X X Extracts X X X X X X X X Extracts X X X X ..... depreciation on right to collect toll tax on road developed by the Assessee or not is already decided by the co-ordinate bench in Assessee s own case bearing [ 2021 (6) TMI 94 - ITAT MUMBAI] for assessment year 2005-06 and 2006-07. These orders of ITAT were followed by the co-ordinate benches in Assessee s case for assessment year 2008-09, 2009-10 and 2010-11[ 2021 (9) TMI 1536 - ITAT MUMBAI] Thus, it is clear that the right to set up infrastructure facility and collect toll on that is a commercial right, which is an intangible asset in terms of provisions u/s 32(1) (ii) of the Act. Therefore, the Assessee is entitled to claim depreciation. Before CIT (A), the Assessee has made the claim by raising an additional ground, which was incor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T (A) pertaining to the claim of allowance of depreciation at the rate of 25% treating to right to collect the toll on the road under the category as intangible asset under section 32(1)(ii) of the Act. Vide Para No.5.3, the Ld. CIT (A) did not admit the same holding that this was not raised by the Ld. AO during the assessment proceedings or at the time of filing of the appeal hence, it was dismissed. 3. Assessee is aggrieved by the same and claims that right to collect toll on the roads is an intangible assets on which depreciation at the rate of 25% should be allowed. In the grounds of appeal, itself the Assessee has stated that the Assessee has been allowed such claim from assessment year 2005-06 till 2010-11 by the co-ordinate bench ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome of Rs. 13,04,73,586/-. The return of income was picked up for scrutiny. The claim of the Assessee for deduction under section 80IA (4) amounting of Rs. 19,26,32,423/- was examined. The same was allowed to the extent of Rs. 19,24,97,698/-. During the assessment proceedings as well as in the return of income, the Assessee has claimed amount of deduction on expenditure on road constructed for which right to collect toll was allotted to the Assessee on amortized value there was no claim before the Ld. AO to consider the depreciation on such intangible asset. 6. The assessment order dated 28.12.2016 passed under section 143(3) of the Act was challenged before the Ld. CIT(A) wherein the Assessee raised an additional ground of appeal that t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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