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2019 (2) TMI 368 - AT - Income TaxDepreciation on the asset ‘Right to Collect Toll’ - Held that:- CIT(A) allowed the benefit of depreciation @25% on the intangible asset designated by the assessee as “Right to Collect Toll” by relying on certain Tribunal orders passed in the case of assessee’s sister concern. It is further observed that similar view has been taken by the Special Bench of the Tribunal in ACIT Vs. Progressive Construction Limited [2017 (3) TMI 1167 - ITAT HYDERABAD]. DR, except for relying on the order of the AO, could not place any material on record to demonstrate that the order passed by the Tribunal in the case of the assessee’s sister concern has been reversed or modified by the Hon’ble Bombay High Court in any manner. Respectfully following the precedent, we uphold the impugned orders. In the result, both the appeals are dismissed.
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