https://www.taxtmi.com/circulars?id=52777 The Board clarifies that capitalized costs of constructing roads/highways under BOT concession agreements where ownership is not vested in the assessee may be amortized as allowable business expenditure. Amortization must exclude the construction period and be computed so the entire reduced initial cost is spread evenly over the remaining concession term; any earlier deductions claimed are to be deducted from the initial cost before equal amortization over the remaining period. en-us Wed, 23 Apr 2014 00:00:00 +0530 Thu, 24 Apr 2014 10:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=52777 The Board clarifies that capitalized costs of constructing roads/highways under BOT concession agreements where ownership is not vested in the assessee may be amortized as allowable business expenditure. Amortization must exclude the construction period and be computed so the entire reduced initial cost is spread evenly over the remaining concession term; any earlier deductions claimed are to be deducted from the initial cost before equal amortization over the remaining period. Circulars Income Tax Wed, 23 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52777