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2014 (11) TMI 351 - HC - Income TaxAllowability of depreciation on toll road - ownership - When a person like the Assessee who is in the business of infrastructure development in execution of such agreement constructs a road and on Build, Operate and Transfer (BOT) basis on the land owned by the Government, can it claim depreciation on the toll road - Held that:- Merely, because the road is laid out does not mean that the Assessee is the owner thereof. He has laid it out for the purpose of the union and for its ultimate vesting in the public. Decision in the case of Noida Toll Bridge Co. Ltd. [2012 (11) TMI 556 - ALLAHABAD HIGH COURT] distinguished - Decided against assessee.
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