https://www.taxtmi.com/caselaws?id=433409 The Tribunal dismissed the Revenue's appeals and upheld the Commissioner of Income Tax (Appeals)' decision to allow depreciation on the intangible asset "License to Collect Toll." The Tribunal found no merit in the Revenue's arguments and cited consistency with previous rulings in favor of the assessee regarding the classification of the asset as an intangible asset eligible for depreciation under the Income-tax Act, 1961. en-us Wed, 18 Jan 2023 00:00:00 +0530 Sat, 28 Jan 2023 09:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433409 The Tribunal dismissed the Revenue's appeals and upheld the Commissioner of Income Tax (Appeals)' decision to allow depreciation on the intangible asset "License to Collect Toll." The Tribunal found no merit in the Revenue's arguments and cited consistency with previous rulings in favor of the assessee regarding the classification of the asset as an intangible asset eligible for depreciation under the Income-tax Act, 1961. Case-Laws Income Tax Wed, 18 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433409