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Claim of depreciation on metro project to collect fare being intangible asset allowed: ITAT Delhi
Case Law Details
- Case Name
- ACIT Vs Delhi Airport Metro Express Private Limited (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 Delhi Airport Metro Express Private Limited (ITAT Delhi)
ITAT Delhi held that even though assessee is not the owner of the Airport Metro Express Line Project it has right to collect fare from commercial operations. Thus, depreciation is eligible on such intangible assets as per provisions of section 32(1)(ii).
Facts- The assessee was a concessionaire for the Airport Metro Express Project of Delhi Metro Rail Corporation (DMRC) and had, pursuant to Concession Agreement dated 25.08.2008, developed the Airport Metro Express Project under Build-Operate-Transfer (BOT) scheme.
The assessee co...
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