https://www.taxtmi.com/caselaws?id=218541 HC held that the assessee, which constructed and operated a toll road/bridge on BOOT basis on leased land, was entitled to depreciation under Section 32. Relying on principles that "owner" includes a person having dominion and exclusive right to use and enjoy the asset, the court held that, for the concession period, the assessee effectively owned the road and bridge, including the right to collect tolls and regulate use. Explanation 1 to Section 32 supported treating such capital expenditure as on a building owned by the assessee. HC decided the depreciation issue and the take-out assistance fee for redemption of Deep Discount Bonds in favour of the assessee. en-us Thu, 08 Nov 2012 00:00:00 +0530 Thu, 27 Nov 2025 10:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218541 HC held that the assessee, which constructed and operated a toll road/bridge on BOOT basis on leased land, was entitled to depreciation under Section 32. Relying on principles that "owner" includes a person having dominion and exclusive right to use and enjoy the asset, the court held that, for the concession period, the assessee effectively owned the road and bridge, including the right to collect tolls and regulate use. Explanation 1 to Section 32 supported treating such capital expenditure as on a building owned by the assessee. HC decided the depreciation issue and the take-out assistance fee for redemption of Deep Discount Bonds in favour of the assessee. Case-Laws Income Tax Thu, 08 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218541