after claiming
depreciation on the BOT project constructed by it. Originally, assessment was
completed under section 143(3) of the Act vide order dated ... disallowing assessee's claim of depreciation on the BOT project.
3. Against the re-assessment order passed disallowing claim of depreciation,
assessee filed appeal
roads/ highways in BOT agreements under Income Tax Act . It was
submitted that the letter of acceptance for BOT projects and the
return of income ... highways in BOT agreements and has held that
the cost of construction on development of infrastructure facility of
roads/highways under BOT projects
November 2004. The appellant and the second
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In a BOT project, the public sector grantor grants to a private company the right to develop ... awarding the project to the second
respondent, it having made the lowest bid. The project was to be
constructed on a BOT basis and would
concession agreement
with M/s PBTL to construct the 4-lane
project on BOT (Toll Basis) for the public
5
interest, whose contractor ... obvious from the Map and strip plan
of NH-30 BOT Project from Patna to
Bakhtiyarpur.”
THE CASE OF THE CONCESSIONAIRE
9. In the first
assessee on infrastructure facility for
development of roads/highways under the BOT project may be amortized
evenly over the period of the concessionaire agreement after ... 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
agreement based
upon the build, operate and transfer (BOT).
33. In a BOT project, a private company is given a concession to
build and operate ... approach by earning direct private sector
investment in large scale infrastructure project. The BOT model is
defined as the cooperation between government and the private
BOT (Toll), BOT (Toll + Annuity) & BOT (Annuity)
Mode for MPRDC for the State of Madhya Pradesh (hereinafter
referred to as "the Project ... Operation and Maintenance (O & M) of the
MPRDC road projects under BOT (Toll), BOT (Toll and Annuity
and BOT (Annuity mode in the State
construction period. Further, expenditure
incurred by the assessee on such BOT projects brings to it an
enduring benefit in the form of right to collect ... construction on development of
3
infrastructure facilities of roads/highways under BOT projects
may be amortized and claimed as allowable business
expenditure under
construction period. Further, expenditure
incurred by the assessee on such BOT projects brings to it an
enduring benefit in the form of right to collect ... construction on development of
3
infrastructure facilities of roads/highways under BOT projects
may be amortized and claimed as allowable business
expenditure under
that
may be received in relation to any of the road BOT
projects of the KMC Respondents) shall be used in
accordance with the priority
