https://www.taxtmi.com/caselaws?id=449239 The Tribunal ruled that the right to collect toll on infrastructure facilities qualifies as an intangible asset eligible for 25% depreciation under section 32(1)(ii) of the Income Tax Act, 1961. It found the Commissioner's refusal to admit the Assessee's additional ground for claiming depreciation unsustainable. The Tribunal directed the Assessing Officer to grant the depreciation and re-compute the allowable deduction under section 80IA(4) by replacing the amortized value with the allowable depreciation. The Assessee's appeal was allowed. en-us Wed, 31 Jan 2024 00:00:00 +0530 Wed, 07 Feb 2024 09:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449239 The Tribunal ruled that the right to collect toll on infrastructure facilities qualifies as an intangible asset eligible for 25% depreciation under section 32(1)(ii) of the Income Tax Act, 1961. It found the Commissioner's refusal to admit the Assessee's additional ground for claiming depreciation unsustainable. The Tribunal directed the Assessing Officer to grant the depreciation and re-compute the allowable deduction under section 80IA(4) by replacing the amortized value with the allowable depreciation. The Assessee's appeal was allowed. Case-Laws Income Tax Wed, 31 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449239