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Case Law Details

Case Name : DCIT Vs Mumbai Nasik Expressway Ltd. (ITAT Mumbai)
Related Assessment Year : 2012-13
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DCIT Vs Mumbai Nasik Expressway Ltd. (ITAT Mumbai)

Expenditure incurred by the assessee for construction of road under BOT contract by Govt. of India have given rise to an intangible asset as defined under explanation 3(b) read with section 32(1)(iii) of the Act, assessee would be eligible to claim depreciation on such asset at specified rates. The Special Bench has finally held that although the assessee is not the owner of the land but the right granted by the Govt. of India under the Concession Agreement (CA) has a licens

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