Depreciation on intangible toll collection rights u/s 32(1)(ii) of Income Tax Act upheld as legally valid.

Depreciation on intangible toll collection rights u/s 32(1)(ii) of Income Tax Act upheld as legally valid. https://www.taxtmi.com/highlights?id=58231 Depreciation u/s 32(1)(ii) in respect of its “right to collect toll” - the claim of the assessee towards depreciation under Sec.32(1)(ii) in respect of its intangible rights i.e “right to collect toll” being in conformity with the mandate of law is found to be in order. - AT en-us Thu, 03 Jun 2021 13:30:34 +0530 Thu, 03 Jun 2021 13:30:34 +0530 TaxTMI RSS Generator Depreciation on intangible toll collection rights u/s 32(1)(ii) of Income Tax Act upheld as legally valid. https://www.taxtmi.com/highlights?id=58231 Depreciation u/s 32(1)(ii) in respect of its “right to collect toll” - the claim of the assessee towards depreciation under Sec.32(1)(ii) in respect of its intangible rights i.e “right to collect toll” being in conformity with the mandate of law is found to be in order. - AT Highlights Income Tax Thu, 03 Jun 2021 13:30:34 +0530 https://www.taxtmi.com/highlights?id=58231