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2019 (12) TMI 827 - AT - Income TaxDisallowance of deduction u/s. 80IA on ICDs/CFS which are Inland ports - HELD THAT:- This issue is squarely covered by the decision of CIT vs. Container Corporation of India Ltd. [2018 (5) TMI 359 - SUPREME COURT] in which the Hon’ble Supreme Court of India has adjudicated the similar issue against the Revenue as held ICDs are Inland Ports and subject to the provisions of the Section and deduction can be claimed for the income earned out of these Depots. However, the actual computation is to be made in accordance with the different Notifications issued by the Customs department with regard to different ICDs located at different places Depreciation on intangible assets being value of License acquired from the Indian Railways for running container trains on Indian Railways - HELD THAT:- The issue is squarely covered by the decision of the ITAT for the assessment year 2010-11 in assessee’s own case [2018 (9) TMI 142 - ITAT DELHI] hold that assessee is eligible for depreciation @ 25% on the intangible asset acquired by it, hence, the same is allowed and accordingly, the ground no. 2 raised by the assessee is allowed. Deduction on account of advance lease rent paid for the land taken on long term lease for business purposes on pro rata basis - HELD THAT:- In assessee’s own case [2018 (9) TMI 142 - ITAT DELHI] dispute is set aside to the file of the AO with the direction to assessee to furnish all requisite details in respect of the claim of depreciation. The AO shall then verify the details to determine whether the claim of the assessee is allowable or not as per law.
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