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2018 (10) TMI 124 - AT - Income TaxDisallowance of claim of depreciation on toll road u/s.32 by treating the same as plant and machinery - Held that:- Issue under consideration is covered by the order of the Tribunal in assessee’s own case for the A.Y.2009-10 [2015 (5) TMI 305 - ITAT MUMBAI] and also by the order for A.Y.2010-11 [2017 (6) TMI 237 - ITAT MUMBAI] as held assessee is entitled to the claim of depreciation on the road to collect toll being an intangible asset falling within the purview of section 32(1) (ii) of the Act. Even the assessee is not the owner of the toll road. The assessee has been given only the right to develop, maintain and operate the toll road and further to collect the toll for the specified period. This right as discussed above is an intangible asset falling under section 32(1)(ii) of the Act. - Decided in favour of assessee. Treatment to interest income - income from business or other sources - Held that:- Following the order of Tribunal in assessee’s own case, we do not find any merit in the action of lower authorities treating the interest income under the head of “income from other sources. - Decided in favour of assessee.
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