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Showing contexts for: Infrastructure Development in M/S. Naramada Infrastructure ... vs The Assistant Commissioner Of Income ... on 29 December, 2022Matching Fragments
48. In the case of the L&T Infrastructure Development Projects Ltd(Formerly Narmada Infrastructure Construction Enterprises Limited), https://www.mhc.tn.gov.in/judis the appellant in TCA No. 868,869 and 870 of 2009, the appellant claimed 25% depreciation which was denied, the Assessing Officer allowed 10% depreciation by treating bridge as building.
49. The Commissioner of Income Tax (Appeals) held that the bridge constructed assessee-appellant was its Plant and therefore the appellant was entitled for depreciation at 25%.
54. The case of the respective assessees before the Income Tax Appellate Tribunal was that they were entitled for depreciation under plant and machinery at 25%.
55. The Tribunal has taken similar views in the case of the respective assessees. In the case of L&T Infrastructure Development Projects Ltd.*(Formerly Narmada Infrastructure Construction Enterprises Limited) Appellants in TCA Nos. 868, 869 and 870 of 2009), it has held that the assessee was entitled for 10% depreciation. https://www.mhc.tn.gov.in/judis
132. This leaves us with the 3rd substantial question of law framed by us. The Assessing Officer while passing the assessment orders dated 30.11.2005 in I.T.A.Nos.617/Mds/2008, 618/Mds/2008 & 619/Mds/2008 for the Assessment Years 2001-02 to 2003-04 have https://www.mhc.tn.gov.in/judis conferred the benefit of depreciation on the “ Toll Bridge” by treating as “ Buildings”eligible for depreciation at the rate of 10% as against the claimed rate of 25% made by assessee, by treating “ Toll Bridge” as “ Plant”, as far as the assessee viz., L&T Infrastructure Development Projects Ltd.*(Formerly Narmada Infrastructure Construction Enterprises Limited) the Appellants in TCA No. 868,869 and 870 of 2009. This view of the Assessing Offer while passing the assessment orders dated 30.11.2005 was reversed by the Appellate Commissioner vide order dated 11.01.2008 by accepting the views of the assessee that it was entitled to depreciation at 25%.
146. In the light of the above discussion:-
i) T.C.A.Nos.868 to 870 of 2009 filed by the Assessee, viz., L&T Infrastructure Development Projects Ltd. (Formerly Narmada Infrastructure Construction Enterprises Limited) against common impugned order passed by the Income Tax Appellate Tribunal dated 13.02.2009 in ITA.Nos.617 to 619/Mds/2008 ) for the Assessment Years 2001-02;