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2016 (4) TMI 1184 - HC - Income TaxDepreciation on assets not owned by the respondent - whether the Tribunal was right in its decision of treating toll roads as plant and machinery? - Held that:- Following the decision of this court in North Karnataka Expressway Ltd. (2014 (11) TMI 351 - BOMBAY HIGH COURT) wherein 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 we answer substantial questions of law in the negative, i.e., in favour of the appellant-Revenue and against the respondent-assessee.
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