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Depreciation allowed on License/registration fee paid to Indian Railways
Case Law Details
- Case Name
- ACIT Vs Central Warehousing Corpn. (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Delhi
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ACIT Vs Central Warehousing Corpn. (ITAT Delhi)
Now coming to the depreciation in respect of license/registration fee paid to Indian Railways, the ld. CIT(A) based his finding on the observations of the Tribunal in the case of ONGC Videsh Ltd. (supra) wherein it was held that the right granted to the assessee by way of license whereunder the assessee had become owner of such right, such license enables the assessee to have an access to carry on their business and therefore, it falls within the category of an asset u/s. 32(1)(ii) of the Act. We find that the claim of depreciation in respect o...
