Depreciation not allowable on legal service expenses not resulting in any commercial rights

Bangalore International Airport Ltd. Vs DCIT (ITAT Bangalore) Assessee submitted that Professional or Legal Service expenditure was incurred wholly in connection with entering into various agreements. Most of the expenditure was towards availing of professional and legal services during pre-operative period i.e. before commencement of the commercial operation. In our considered opinion, this expenditure is revenue in nature incurred during pre-operative period which qualifies for capitalization among various fixed assets. As a result of this expenditure, it cannot be said that the assessee had...