https://www.taxtmi.com/caselaws?id=426322 ITAT Pune held that the assessee's cost of acquiring the right to collect toll under an NHAI contract constitutes an "intangible asset" being a "business or commercial right" under s.32(1)(ii). Accordingly, depreciation at 25% is allowable on such right. The Tribunal relied on supportive HC precedents concerning similar toll collection and commercial rights, and distinguished Bombay HC decisions dealing with depreciation on roads as buildings, holding them inapplicable since the present case concerns the toll collection right, not the road itself. Finding no illegality or infirmity in the order of CIT(A) allowing depreciation, ITAT dismissed the Revenue's appeal in entirety. en-us Tue, 19 Jul 2022 00:00:00 +0530 Thu, 27 Nov 2025 10:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426322 ITAT Pune held that the assessee's cost of acquiring the right to collect toll under an NHAI contract constitutes an "intangible asset" being a "business or commercial right" under s.32(1)(ii). Accordingly, depreciation at 25% is allowable on such right. The Tribunal relied on supportive HC precedents concerning similar toll collection and commercial rights, and distinguished Bombay HC decisions dealing with depreciation on roads as buildings, holding them inapplicable since the present case concerns the toll collection right, not the road itself. Finding no illegality or infirmity in the order of CIT(A) allowing depreciation, ITAT dismissed the Revenue's appeal in entirety. Case-Laws Income Tax Tue, 19 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426322