https://www.taxtmi.com/caselaws?id=303777 The Tribunal upheld the Commissioner of Income Tax (Appeals)-12, Pune's decision allowing depreciation on the "License to collect toll" as an intangible asset under Section 32(1)(ii) of the Income Tax Act. The Tribunal deemed the right to collect toll, obtained through capital expenditure on infrastructure development, as an enduring intangible asset eligible for depreciation. The Revenue's appeals were dismissed, affirming the assessee's right to claim depreciation on the intangible asset. en-us Wed, 29 Nov 2017 00:00:00 +0530 Fri, 12 Aug 2022 20:40:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303777 The Tribunal upheld the Commissioner of Income Tax (Appeals)-12, Pune's decision allowing depreciation on the "License to collect toll" as an intangible asset under Section 32(1)(ii) of the Income Tax Act. The Tribunal deemed the right to collect toll, obtained through capital expenditure on infrastructure development, as an enduring intangible asset eligible for depreciation. The Revenue's appeals were dismissed, affirming the assessee's right to claim depreciation on the intangible asset. Case-Laws Income Tax Wed, 29 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303777