https://www.taxtmi.com/caselaws?id=464983 ITAT Pune-AT held that the assessee's right to collect toll from a road over bridge constructed under a BOT agreement with the State Government constitutes an intangible asset under s.32(1)(ii). Applying the doctrine of ejusdem generis and following its earlier decision in the assessee's own cases for prior years, the Tribunal held that the State-granted licence to collect toll is a "commercial right of similar nature" eligible for depreciation. As no contrary material was produced and facts were similar, ITAT allowed depreciation on the toll collection right and deleted the additions made on account of depreciation for both assessment years, dismissing the Revenue's grounds. en-us Fri, 05 Jan 2018 00:00:00 +0530 Thu, 27 Nov 2025 19:55:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464983 ITAT Pune-AT held that the assessee's right to collect toll from a road over bridge constructed under a BOT agreement with the State Government constitutes an intangible asset under s.32(1)(ii). Applying the doctrine of ejusdem generis and following its earlier decision in the assessee's own cases for prior years, the Tribunal held that the State-granted licence to collect toll is a "commercial right of similar nature" eligible for depreciation. As no contrary material was produced and facts were similar, ITAT allowed depreciation on the toll collection right and deleted the additions made on account of depreciation for both assessment years, dismissing the Revenue's grounds. Case-Laws Income Tax Fri, 05 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464983