https://www.taxtmi.com/caselaws?id=760140 ITAT Mumbai denied depreciation claim u/s 32(1)(ii) on toll roads constructed under BOT basis. Assessee sought depreciation treating toll collection rights as intangible asset at 25%, alternatively as plant and machinery at 15% or building at 10%. ITAT followed Madras HC decision in L T Infrastructure Development Projects Limited, holding it binding over contrary ITAT Special Bench decision. CIT(A)'s denial of depreciation claim upheld, treating toll collection rights as neither tangible nor depreciable intangible asset. Appeal decided against assessee. en-us Tue, 17 Sep 2024 00:00:00 +0530 Mon, 08 Jun 2026 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760140 ITAT Mumbai denied depreciation claim u/s 32(1)(ii) on toll roads constructed under BOT basis. Assessee sought depreciation treating toll collection rights as intangible asset at 25%, alternatively as plant and machinery at 15% or building at 10%. ITAT followed Madras HC decision in L T Infrastructure Development Projects Limited, holding it binding over contrary ITAT Special Bench decision. CIT(A)'s denial of depreciation claim upheld, treating toll collection rights as neither tangible nor depreciable intangible asset. Appeal decided against assessee. Case-Laws Income Tax Tue, 17 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760140