Depreciation not allowed on Leasehold Rights as same is not Intangible Assets

Mahanadi Coalfields Ltd. Vs DCIT (ITAT Cuttack) The issue under consideration is whether the leasehold rights is considered as intangible assets and hence eligible for depreciation under section 32(1)(ii)? ITAT states that, this issue is covered by decision of the Tribunal in assessee’s own case for the previous assessment year i.e. A.Y.2014-2015 in ITA Nos.264/CTK/2017, order dated 20.03.2018. The assessee has raised these additional grounds as per the direction of Hon’ble High Court of Orissa, Cuttack in W.P (C) No.24 of 2013 and Misc. Case No.5716 of 2013 order dated 20.3.2013. In v...