Revision u/s 263 by CIT - Depreciation on road and toll bridge ...

High Court Rules Toll Roads Not Depreciable as "Plant"; Supports Revenue's View u/s 263.

February 1, 2023

Case Laws Income Tax HC

Revision u/s 263 by CIT - Depreciation on road and toll bridge constructed by the assessee - Tribunal has erred in concluding that the Assessing Officer has taken one of the plausible view before for the benefit of depreciation at 25% on “Toll Road” as “Plant”. - In our view, such view was not plausible as “ Toll Roads’ under the concessionaire agreement neither conferred upon the said assessee any “Tangible Assets” nor “Intangible Assets” - Decided in favor of revenue. - HC

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Revision u/s 263 by CIT - Depreciation on road and toll bridge ...

High Court Rules Toll Roads Not Depreciable as "Plant"; Supports Revenue's View u/s 263.

February 1, 2023

Case Laws Income Tax HC

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