words "infrastructure projects for development of
road/highways" but as much on such projects "on BOT basis
where ownership is not vested ... acquired for implementation of Airport Metro
Express Project. Since the said project has been completed
under BOT Scheme, C.B.D.T. Circular
words "infrastructure projects for development of
road/highways" but as much on such projects "on BOT basis
where ownership is not vested ... acquired for implementation of Airport Metro
Express Project. Since the said project has been completed
under BOT Scheme, C.B.D.T. Circular
construction on development on
infrastructure facilities of roads, highways under BOT projects may
be amortized and claim is allowable for business expenditure
under ... initial cost of development of infrastructure facility of
roads/highway under BOT Projects in, earlier years, the total
deduction so claimed may be deducted from
During the year, the appellant
company was developing and running two BOT projects as
under:-
a) New Ashok Nagar, Mayur Vihar, Delhi
b) Botanical Carden ... allowance of BOT (Build, Operate and
Transfer) expenses u/s 32 or otherwise, which
presupposes taxability of highway BOT projects under
head profits and gain
sustained the disallowance as under:
"Under the Build-Operate- Transfer (BOT) projects, the
developer (taxpayer), in terms of concessionaire agreement with
Government ... construction on development of infrastructure facility of
roads/highways under BOT projects may be amortised and claimed
as allowable business expenditure under
amortization of expenditure of Rs.
18,51,12,122/- on the BOT project. The return of income filed by
the appellant was selected for scrutiny ... granted to the appellant due to its capital investment in the BOT
project-by treating the "right to collect toll" as intangible assets
maintain a project relating to construction operation and maintenance of
Paradip Port connectivity project under the Build Operate Transfer (BOT)
basis. For this purpose ... initial
cost of development of infrastructure facility of roads highways under
BOT projects in earlier year, the total deduction so claimed for the
Assessment Years
construction
period. Further, expenditure incurred by the assessee
on such BOT projects had brought an enduring benefit
in the form of right to collect ... agreement expressly mentioned
therein, and had constructed Airport Metro Express project
under BOT scheme (Build Operate and Transfer). He further
submitted that 30 years concession
disallowing depreciation of Rs.
54,80,97,399/- on the Highway Project on BOT basis and instead
allowing amortization cost referring CBDT circular 09/2014 ... concession period. Therefore, assessee has capitalized the
cost incurred on the BOT project on which it has claimed depreciation. Thus, in our view, the
expenditure
specific scope exclusion for real estate
developers and Build - Operate - Transfer (BOT) projects
from ICDS IV on Revenue Recognition, please clarify
whether ICDS ... BOT operators. Also, whether ICDS
applicable for lease.
A:12: At present there is no specific ICDS notified for real estate
developers, BOT projects
