https://www.taxtmi.com/caselaws?id=179930 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal and confirming the allowance of depreciation on the 'License to collect Toll' as an intangible asset under section 32(1)(ii) of the Income Tax Act, 1961. The Tribunal emphasized that the costs incurred for the license were for developing an infrastructure facility, making it an eligible intangible asset for depreciation. The decision was based on the acquisition of the right after incurring expenses on development, construction, and maintenance, meeting the conditions for depreciation. en-us Mon, 29 Apr 2013 00:00:00 +0530 Sat, 04 Mar 2023 06:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179930 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal and confirming the allowance of depreciation on the 'License to collect Toll' as an intangible asset under section 32(1)(ii) of the Income Tax Act, 1961. The Tribunal emphasized that the costs incurred for the license were for developing an infrastructure facility, making it an eligible intangible asset for depreciation. The decision was based on the acquisition of the right after incurring expenses on development, construction, and maintenance, meeting the conditions for depreciation. Case-Laws Income Tax Mon, 29 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179930