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2023 (1) TMI 1156 - AT - Income TaxDepreciation on intangible asset being “License to Collect Toll” - AO following the direction issued by the CBDT’s vide its circular 09/2014 dt. 23/04/2014 appears to have amortized the assessee’s corresponding cost of construction of development of infrastructure facility over the period of concessionaire agreement - CIT(A)’s reversing the findings of Ld. AO in disallowing the claim of depreciation u/s 32(1)(ii) on intangible assets being “License To Collect Toll”- HELD THAT:- No merit in the Revenue’s stand as the very same issue had arisen between these parties in earlier AYs, more particularly in Revenue’s appeal [2022 (8) TMI 561 - ITAT PUNE] Co-ordinate bench has adjudicated the matter against the Revenue and in favour of the assessee Revenue is fair enough in its pleadings and not pin-pointing any distinctive facts or law in all these assessment years so far as the assessee’s treatment of its right to collect toll as an intangible asset u/s 32(1)(ii) is concerned, consequently we see no reason to deviate from the aforesaid decision of the Co-ordinate bench. Appeals of the Revenue is dismissed.
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