Depreciation on public roads is allowable @10%

CIT Vs GVK Jaipur Kishangarh Expressway Ltd. (Rajasthan High Court) Conclusion: Depreciation was allowable @10% on public highway road treating the same as building. Held: Assessee-company was engaged in construction, operations and maintenance of highways. It entered into a concession agreement with the National Highways Authority of India (NHAI) for widening of two lane road to six lane roads on Build operate Transfer (BOT) basis. The work of the widening of the Highway was completed by assessee and the road was opened to the public on 9-4-2005 and since then the assessee was maintaining the...