https://www.taxtmi.com/caselaws?id=242222 ITAT Pune held that the assessee's right to collect toll, arising from expenditure incurred on development, construction, and maintenance of a road infrastructure facility under an agreement with the State Government, constitutes an intangible asset eligible for depreciation under s.32(1)(ii) of the Income-tax Act. The Tribunal rejected Revenue's contention that the right was not "acquired" for consideration, observing that the right existed only because the assessee invested its own funds in the project. As the asset was owned and used for business, depreciation was allowable; appeal was decided against Revenue. en-us Mon, 29 Apr 2013 00:00:00 +0530 Thu, 27 Nov 2025 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242222 ITAT Pune held that the assessee's right to collect toll, arising from expenditure incurred on development, construction, and maintenance of a road infrastructure facility under an agreement with the State Government, constitutes an intangible asset eligible for depreciation under s.32(1)(ii) of the Income-tax Act. The Tribunal rejected Revenue's contention that the right was not "acquired" for consideration, observing that the right existed only because the assessee invested its own funds in the project. As the asset was owned and used for business, depreciation was allowable; appeal was decided against Revenue. Case-Laws Income Tax Mon, 29 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242222