https://www.taxtmi.com/caselaws?id=303792 The appeals by the Revenue regarding the disallowance of depreciation on the 'Right to collect toll' as an intangible asset for assessment years 2012-13 to 2014-15 were dismissed. The Tribunal upheld the decision of the CIT(A) based on precedents and the nature of the asset, ruling in favor of the assessee. The primary contention was whether the assessee, engaged in road construction on a BOT basis, could claim depreciation on the 'License to collect toll.' The Tribunal consistently applied the law, affirming the eligibility of depreciation on the intangible asset, leading to the dismissal of all three appeals. en-us Tue, 11 Jan 2022 00:00:00 +0530 Sat, 13 Aug 2022 08:07:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303792 The appeals by the Revenue regarding the disallowance of depreciation on the 'Right to collect toll' as an intangible asset for assessment years 2012-13 to 2014-15 were dismissed. The Tribunal upheld the decision of the CIT(A) based on precedents and the nature of the asset, ruling in favor of the assessee. The primary contention was whether the assessee, engaged in road construction on a BOT basis, could claim depreciation on the 'License to collect toll.' The Tribunal consistently applied the law, affirming the eligibility of depreciation on the intangible asset, leading to the dismissal of all three appeals. Case-Laws Income Tax Tue, 11 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303792