https://www.taxtmi.com/caselaws?id=295414 The Tribunal allowed depreciation on the toll road as an intangible asset despite the assessee not being the owner, based on commercial rights to collect tolls. Interest income was upheld as 'business income' following precedent. No specific ruling was provided on interest liability under section 234D. The ownership of the toll road was confirmed to be with the government, with the assessee possessing commercial rights eligible for depreciation. The Tribunal dismissed cross-objections and appeals, affirming depreciation as an intangible asset and tax treatment of interest income. en-us Wed, 23 May 2018 00:00:00 +0530 Thu, 03 Jun 2021 08:35:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295414 The Tribunal allowed depreciation on the toll road as an intangible asset despite the assessee not being the owner, based on commercial rights to collect tolls. Interest income was upheld as 'business income' following precedent. No specific ruling was provided on interest liability under section 234D. The ownership of the toll road was confirmed to be with the government, with the assessee possessing commercial rights eligible for depreciation. The Tribunal dismissed cross-objections and appeals, affirming depreciation as an intangible asset and tax treatment of interest income. Case-Laws Income Tax Wed, 23 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295414