ASSISTANT COMMISSIONER OF INCOME-TAX vs. M/S. ASHOKA INFRAWAYS PVT. LTD.,, NASHIK

In the result, the appeals filed by the Revenue and the Cross-

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

depreciation on ‘Licence to collect toll’ considering it as an intangible asset in terms of section 32(1)(ii) of the Act. 3. On the facts and circumstances of the case and in law the ld. CIT(A) has failed to appreciate that the department has not accepted the decision of the ITAT, Pune and an appeal has been filed