Income Tax

Depreciation allowable on public roads by treating as buildings

By editor3 Income Tax Judiciary December 17, 2018

TaxGuru Citation: 2018 taxguru.in 2196
Case Name: PCIT Vs GVK Jaipur Expressway Ltd. (Supreme Court of India)
Appeal Number: Only available for paid members
Date of Judgement/Order: Only available for paid members
Courts: Supreme Court of India

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PCIT Vs GVK Jaipur Expressway Ltd. (Supreme Court of India)

FULL TEXT OF THE SUPREME COURT JUDGMENT

1. Delay condoned.

2. The Special Leave Petition is dismissed.

FULL TEXT OF THE RELEVANT HIGH COURT JUDGMENT

PCIT v. GVK Jaipur Expressway Ltd. (Rajasthan High Court), D.B. Income Tax Appeal No. 232/2016, Dated 10/10/2017

1. In all these appeals common questions of law and facts are involved hence they are decided by this common judgment.

2. By way of these appeals, the appellant has assailed the judgment and order of the tribunal whereby the tribunal has dismissed the appeal of the department and allowed the appeal preferred by the assessee.

3. This court while admitting the appeals framed following substantial questions of law:—

1. Appeal No. 142/2017 Admitted on 09.05.2017

“1.

Whether in the facts and circumstances of the case the Tribunal was justified in allowing the claim of depreciation on public roads treating the same as building which is not permissible in law?

Whether on the facts circumstances of the case the Tribunal was justified in allowing the claim of depreciation @ 60% on EDP Equipments treating the same as the computer equipments though depreciation is permissible only @ 15% because EDP equipments are physical structures not computers.