“Section 32(1)(i1)”

Section References (mined)Section 32Section 32(1)(i1)6 judgments

BSC C&C KURALI TOLL ROAD LTD.,NEW DELHI vs. ACIT CIRCLE-5(1), NEW DELHI

In the result appeal of the assessee is partly allowed

ITA 3141/DEL/2019[2014-15]Status: DisposedITAT Delhi13 Feb 2023AY 2014-15

Bench: Shri Chandra Mohan Garg & Shri B.R.R. Kumar

For Appellant: Shri Amarjit Singh, CAFor Respondent: Shri P. Praveen Sidharth, CIT DR

agreement with the Government of Madhya Pradesh only allowed the assessee to recover the costs incurred for constructing the road facility whereas section 32(1)(i1) of the Act required that the assets mentioned therein should be acquired by the assessee after spending money. The said argument in our view ... holding that the assessee was eligible for depreciation on the 'Right to collect Toll', being an 'intangible asset' falling within the purview of section 32(1)(i1) of the Act following the aforesaid precedents." ITA Nos.3141/Del/2019 Page 8 of 14 7. In terms of the aforesaid precedent, the claim

WEST GUJARAT EXDPRESS WAY LTD.,MUMBAI vs. DY CIT -14(3)(1), MUMBAI

In the result, appeal by the Revenue is dismissed

ITA 483/MUM/2021[2012-13]Status: DisposedITAT Mumbai26 Sept 2022AY 2012-13

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

For Appellant: Shri Niranjan Govindekar a/wFor Respondent: Shri Ashok Kumar Kardam

Section 143(3)Section 250Section 253(3)

agreement with the Government of Madhya Pradesh only allowed the assessee to recover the costs incurred for constructing the road facility whereas section 32(1)(i1) of the Act required that the assets mentioned therein should be acquired by the assessee after spending money. The said argument in our view ... toll for the specified period only after incurring expenditure through its own resources on development, construction and maintenance of the infrastructure facility. Secondly, section 32(1)(i1) permits allowance of depreciation on assets specified therein being 'intangible assets' which are wholly or partly owned by the assessee and used

ACIT, CIRCLE-14(1)(2), MUMBAI vs. WEST GUJARAT EXPRESS WAY LTD., MUMBAI

In the result, appeal by the Revenue is dismissed

ITA 2496/MUM/2021[2012-13]Status: DisposedITAT Mumbai26 Sept 2022AY 2012-13

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

For Appellant: Shri Niranjan Govindekar a/wFor Respondent: Shri Ashok Kumar Kardam

Section 143(3)Section 250Section 253(3)

agreement with the Government of Madhya Pradesh only allowed the assessee to recover the costs incurred for constructing the road facility whereas section 32(1)(i1) of the Act required that the assets mentioned therein should be acquired by the assessee after spending money. The said argument in our view ... toll for the specified period only after incurring expenditure through its own resources on development, construction and maintenance of the infrastructure facility. Secondly, section 32(1)(i1) permits allowance of depreciation on assets specified therein being 'intangible assets' which are wholly or partly owned by the assessee and used

PUNE SOLAPUR EXPRESSWAYS P.LTD,PUNE vs. ACIT, CIRCLE-20(1), NEW DELHI

In the result, the appeal filed by the assessee is allowed

ITA 3326/DEL/2018[2013-14]Status: DisposedITAT Delhi10 Nov 2021AY 2013-14

For Appellant: Shri Ketan Ved, CAFor Respondent: Shri Munesh Kumar, CIT, DR

Section 250(6)Section 253Section 32

agreement with the Government of Madhya Pradesh only allowed the assessee to recover the costs incurred for constructing the road facility whereas section 32(1)(i1) of the Act required that the assets mentioned therein should be acquired by the assessee after spending money. The said argument in our view ... toll for the specified period only after incurring expenditure through its own resources on development, construction and maintenance of the infrastructure facility. Secondly, section 32(1)(i1) permits allowance of depreciation on assets specified therein being 'intangible assets' which are wholly or partly owned by the assessee and used

BSC C&C KURALI TOLL ROAD LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, both appeals of the assessee are partly allowed

ITA 1593/DEL/2017[2013-14]Status: DisposedITAT Delhi18 May 2021AY 2013-14

Bench: Shri G.S. Pannu & Shri Kul Bharat

Section 143(3)

agreement with the Government of Madhya Pradesh only allowed the assessee to recover the costs incurred for constructing the road facility whereas section 32(1)(i1) of the Act required that the assets mentioned therein should be acquired by the assessee after spending money. The said argument in our view ... cost. In fact, it is quite evident that assessee got the right to collect toll for the specified the infrastructure facility. Secondly, section 32(1)(i1) permits allowance of depreciation on assets specified therein being 'intangible assets' which are wholly or partly owned by the assessee and used

BSC C&C KURALI TOLL ROAD LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, both appeals of the assessee are partly allowed

ITA 1592/DEL/2017[2012-13]Status: DisposedITAT Delhi18 May 2021AY 2012-13

Bench: Shri G.S. Pannu & Shri Kul Bharat

Section 143(3)

agreement with the Government of Madhya Pradesh only allowed the assessee to recover the costs incurred for constructing the road facility whereas section 32(1)(i1) of the Act required that the assets mentioned therein should be acquired by the assessee after spending money. The said argument in our view ... cost. In fact, it is quite evident that assessee got the right to collect toll for the specified the infrastructure facility. Secondly, section 32(1)(i1) permits allowance of depreciation on assets specified therein being 'intangible assets' which are wholly or partly owned by the assessee and used