https://www.taxtmi.com/caselaws?id=408198 The ITAT Mumbai held that a BOT concession holder's right to operate a road project and collect toll is a depreciable intangible asset under Explanation 3(b) read with Section 32(1)(ii), because it is a commercial right distinct from the underlying road, which remains the Government's asset. The Tribunal distinguished earlier rulings on depreciation of the physical toll road and followed the Special Bench view on depreciation of the toll-collection right. It also held that an ad hoc disallowance of motor car expenses could not survive where business use was supported by allowed depreciation on the vehicle, so the factual basis for non-business use failed. en-us Mon, 24 May 2021 00:00:00 +0530 Sat, 03 Feb 2024 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408198 The ITAT Mumbai held that a BOT concession holder's right to operate a road project and collect toll is a depreciable intangible asset under Explanation 3(b) read with Section 32(1)(ii), because it is a commercial right distinct from the underlying road, which remains the Government's asset. The Tribunal distinguished earlier rulings on depreciation of the physical toll road and followed the Special Bench view on depreciation of the toll-collection right. It also held that an ad hoc disallowance of motor car expenses could not survive where business use was supported by allowed depreciation on the vehicle, so the factual basis for non-business use failed. Case-Laws Income Tax Mon, 24 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408198