RAKESH KUMAR PANDEY,GONDA vs. DCIT/ACIT (CENTRAL)-2, LUCKNOW

In the result, the outcome of the appeals and Cross Objections are as under:

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

sections 147 to 151 shall apply as they stood immediately before the commencement of the Finance (No. 2) Act, 2024.] Further, AO while passing the order has not taken approval from Range Head as per the provision of sec. 148B being applicable provision on the other side took administrative approval from Range Head as per the Board order dated

JCIT(OSD), CC-1, LKO, LUCKNOW vs. ACP TOLLWAYS PRIVATE LIMITED, LUCKNOW

In the result, the appeal filed by Revenue is dismissed and the Cross\nObjection filed by the assessee is partly allowed

disallowing the claim of depreciation of\nRs.1,49,17,94,856/- (25% of the investment of Rs.5,93,07,85,661/- by treating\nthe above investment as intangible asset - right to operate toll road and collect\ntoll charges). The AO however allowed Amortization expenses of\nRs.37,98,00,000/- in view of the CBDT Circular No.9 dated 23.04.2010.\nRELIEF GIVEN