https://www.taxtmi.com/caselaws?id=753726 ITAT Delhi held that expenditure incurred for road construction under BOT contract creates an intangible asset, being the right to collect toll charges in lieu of capital investment. Following precedent from Progressive Construction Limited case, the tribunal ruled that toll collection rights constitute business or commercial rights under section 32(1)(ii) read with Explanation 3(b). The assessee was entitled to claim depreciation at 25% on the written down value of such intangible assets. Appeal allowed. en-us Thu, 06 Jun 2024 00:00:00 +0530 Sat, 08 Jun 2024 09:05:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753726 ITAT Delhi held that expenditure incurred for road construction under BOT contract creates an intangible asset, being the right to collect toll charges in lieu of capital investment. Following precedent from Progressive Construction Limited case, the tribunal ruled that toll collection rights constitute business or commercial rights under section 32(1)(ii) read with Explanation 3(b). The assessee was entitled to claim depreciation at 25% on the written down value of such intangible assets. Appeal allowed. Case-Laws Income Tax Thu, 06 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753726