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

property to the exclusion of all others. The Hon'ble\nApex Court in the above mentioned judgement has further held that the\nvery concept of depreciation suggests that the tax benefit on account of\ndepreciation legitimately belongs to one who has invested in the capital\nasset, is utilizing the capital asset and thereby loosing gradually\ninvestment caused by wear

ASTT. COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW vs. M/S U.P AWAS EVAM VIKAS PARISHAD, LUCKNOW

In the result, all the grounds taken in the appeals and ground 1 of additional grounds of the Revenue stand dismissed and additional ground