Assessee entitled to amortize expenses over concession period of BOT projects

DCIT Vs Welspun Projects Limited (ITAT Ahmedabad) It was also argued by the learned DR that there is no provision under the Act for amortization of the expenses. Therefore, the assessee should not be allowed the deduction of the expenses amortized in the year under consideration. Undoubtedly, the assessee has incurred the expenses on the projects which were in the nature of BOT. Thus the assessee was entitled to amortize the expenses over the concession period of these projects. For this purpose reference can also be made to the circular issued by CBDT bearing No. 09 of 2014 dated 23 April 201...