Development fee collected for funding capital expenditure for airport development not taxable as revenue income

Mumbai International Airport Pvt. Ltd. Vs DCIT (ITAT Mumbai) ITAT Mumbai held that development fees collected from passengers was earmarked for capital expenditure towards modernisation and development of airport infrastructure and therefore the same could not be treated as revenue income of the assessee. Facts- The issues raised by the Revenue, vide the present appeal, pertain to allowability of depreciation on upfront concession fee paid to Airports Authority of India, deduction of payment made towards retrenchment/compensation to employees of AAI, taxability of development fee collected fr...