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2018 (3) TMI 1912 - AT - Income TaxAssessment u/s 153C - Depreciation at 25% on ‘Licence to collect toll’ - Whether assessee was eligible to claim depreciation on ‘Licence to collect toll’ considering it as an intangible asset in terms of section 32(1)(ii)? - HELD THAT:- Commissioner of Income Tax (Appeals) following the earlier order of the Tribunal (2014 (1) TMI 443 - ITAT PUNE) in assessment years 2006-07 and 2007-08 allowed the claim of the assessee. The year under appeals are starting from assessment years 2005-06 to 2011-12. The assessment has been completed as pointed earlier under Section 153C r.w.s 143(3) of the Act. In the first instance, we hold that the assessee is entitled to the claim of depreciation at 25% on the right to collect toll being an intangible asset. Accordingly, we uphold the order of Commissioner of Income Tax (Appeals) in this regard and also uphold the direction to the Assessing Officer to withdraw the deduction allowed on amortization of the costs for assessment year 2005-06. It may be pointed out that similar issue also arose before the Tribunal in the case of Ashoka Infrastructure Ltd., [2017 (6) TMI 1167 - ITAT PUNE] relating to assessment years 2006-07 to 2011- 12. Similar issue arose in the said appeal and was decided in favour of the assessee.
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