https://www.taxtmi.com/caselaws?id=384158 The Tribunal upheld the CIT(A)'s decision, allowing the assessee to claim depreciation on toll way rights as intangible assets under section 32(1)(ii) of the Income Tax Act. The Tribunal determined that the right to collect toll charges qualifies as an intangible asset, rejecting the Revenue's argument based on CBDT Circular No. 9/2014 advocating amortization. The decision aligned with precedent, establishing toll way rights as depreciable intangible assets despite the circular's guidance. en-us Fri, 26 Jul 2019 00:00:00 +0530 Tue, 06 Aug 2019 15:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384158 The Tribunal upheld the CIT(A)'s decision, allowing the assessee to claim depreciation on toll way rights as intangible assets under section 32(1)(ii) of the Income Tax Act. The Tribunal determined that the right to collect toll charges qualifies as an intangible asset, rejecting the Revenue's argument based on CBDT Circular No. 9/2014 advocating amortization. The decision aligned with precedent, establishing toll way rights as depreciable intangible assets despite the circular's guidance. Case-Laws Income Tax Fri, 26 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384158