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2010 (12) TMI 1181 - AT - Income TaxDepreciation on Toll Road developed by the appellant - HELD THAT:- In terms of BOT scheme and entrepreneur is required to build an infrastructure facility by arranging its own finances. Thereupon the operation and maintenance is also the responsibility of the entrepreneur. In consideration thereupon such entrepreneur is entitled to collect on from the motor vehicle passing through such road/bridges etc. In view of these facts, we are of the considered opinion that the assessee is entitled to depreciation. Our view is further supported by the decision of the Pune Bench in the case of Ashoka Info (P) Ltd. vs. ACIT [2008 (12) TMI 271 - ITAT PUNE-B]. Therefore, this ground of the assessee in both the appeals is allowed. Disallowance of vehicle running and maintenance expenses - HELD THAT:- In the present appeals, the disallowance was made for want of log-book and other relevant record, meaning thereby, it was not explained by the assessee that the vehicles were exclusively used for business purposes. The personal use of vehicles is also not ruled out, therefore, keeping in view the totality of facts and circumstances, only 20% of the claimed expenses are disallowed, consequently, this ground of the assessee is party allowed. adhoc disallowance - HELD THAT:- the disallowance is restricted to 50% of the claimed amounts, therefore, this ground of the assessee is partly allowed. Finally, the appeals of the assessee are partly allowed.
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