Addl. Commissioner of Income Tax vs. M/s Delhi Airport Metro Express Private Limited

Parties Involved

Facts Summary

During the relevant years under consideration, the assessee, M/s Delhi Airport Metro Express Private Limited, was engaged in the business of Metro Rail operations. The assessee had developed the Airport Metro Express Project under a Build-Operate-Transfer (BOT) scheme. The assessee claimed depreciation on capital expenditure incurred for various assets for the project. The Assessing Officer disallowed the depreciation claim, relying on a circular issued by the Central Board of Direct Taxes (CBDT) dated 23.04.2014, which stated that the cost of construction on development of infrastructure facilities under BOT projects may be amortized and claimed as allowable business expenditure. The Commissioner of Income Tax (Appeals) allowed the appeal of the assessee and deleted the disallowance of depreciation. The Revenue appealed against this order before the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Whether the Ld. CIT(A) erred in deleting the disallowance of depreciation made by the Assessing Officer.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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