https://www.taxtmi.com/caselaws?id=312202 Interest earned on bank deposits and short-term loans deployed in infrastructure business operations is treated as business income where it is inextricably linked to project-related arrangements, rather than as income from other sources. A contractual right acquired under a BOT road project to operate the facility and collect toll or annuity constitutes a licence or comparable business or commercial right. It therefore qualifies as a depreciable intangible asset under section 32(1)(ii). The stated treatment results in deletion of the contested additions and allowance of depreciation on the road project right. en-us Mon, 20 Sep 2021 00:00:00 +0530 Tue, 06 Feb 2024 23:10:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312202 Interest earned on bank deposits and short-term loans deployed in infrastructure business operations is treated as business income where it is inextricably linked to project-related arrangements, rather than as income from other sources. A contractual right acquired under a BOT road project to operate the facility and collect toll or annuity constitutes a licence or comparable business or commercial right. It therefore qualifies as a depreciable intangible asset under section 32(1)(ii). The stated treatment results in deletion of the contested additions and allowance of depreciation on the road project right. Case-Laws Income Tax Mon, 20 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312202