Case Law Details
JCIT (OSD) Vs Rohan And Rajdeep Infrastructure Pvt. Ltd. (ITAT Pune)
We note that the assessee also incurred expenditure in constructing Amritsar Bus Terminal on BOT basis and to recoup the said investment, the assessee was allowed to collect adda fees from the users of the said bus terminal. In our view, the said right is business or commercial right in terms of section 32(1)(ii) of the Act, is an intangible asset, therefore, the assessee is entitled to claim depreciation.
FULL TEXT OF THE ITAT JUDGEMENT
These three appeals by the Revenue against the common order dated 09-10-2017 passed by the Commissioner of Income Tax (Appeals)-13, Pune [„CIT(A)‟] for assessment years 2006-07, 2007-08 and 2008-09.
2. We find that the issues raised in all these appeals are similar, based same identical facts. Upon hearing both the parties, we proceed to hear these appeals together and to pass a consolidated order for the sake of convenience.
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