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Depreciation on road construction admissible since BOT project given rise to an intangible asset: ITAT Delhi
Case Law Details
- Case Name
- Kurukshetra Expressway Pvt Ltd Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Delhi
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Kurukshetra Expressway Pvt Ltd Vs DCIT (ITAT Delhi)
ITAT Delhi held that expenditure in Built Operate and Transfer (BOT) project giving rise to an intangible assets eligible for claiming depreciation @25% on road construction admissible.
Facts- The appellant/assessee is a Special Purpose Vehicle incorporated for carrying out construction, operation and transfer of a stretch of the Rohtak Bawal Highway Project on Built Operate and Transfer (BOT) basis.
Appellant claimed depreciation of Rs. 2,04,32,08,982/- viz. @25% on the right to collect toll granted to the appellant due to its capital invest...
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