https://www.taxtmi.com/caselaws?id=308789 The Tribunal allowed the appeal, holding that the assessee is entitled to claim depreciation on the intangible asset created by the expenditure incurred on the highway project. The Tribunal relied on the Special Bench decision in ACIT vs. Progressive Constructions Ltd., recognizing the right to operate and collect toll charges as an intangible asset eligible for depreciation under section 32(1)(ii) of the Income Tax Act. The appeal was allowed, and the disallowance of depreciation was overturned. en-us Tue, 26 Jul 2022 00:00:00 +0530 Sat, 22 Jul 2023 20:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308789 The Tribunal allowed the appeal, holding that the assessee is entitled to claim depreciation on the intangible asset created by the expenditure incurred on the highway project. The Tribunal relied on the Special Bench decision in ACIT vs. Progressive Constructions Ltd., recognizing the right to operate and collect toll charges as an intangible asset eligible for depreciation under section 32(1)(ii) of the Income Tax Act. The appeal was allowed, and the disallowance of depreciation was overturned. Case-Laws Income Tax Tue, 26 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308789