https://www.taxtmi.com/caselaws?id=782366 ITAT held that the assessee is entitled to depreciation on the "Right to Collect Toll" as an intangible asset. It found that under the DBFOT arrangement the assessee had deemed ownership, acquisition, and possession of the underlying project assets, which satisfies the ownership requirement for depreciation. The Tribunal rejected the Revenue's contention that physical ownership was necessary, noting that such a condition is impossible for intangible assets and that law does not require the impossible. Distinguishing earlier BOT-based HC decisions relied on by Revenue, ITAT held that the assessee's claim of depreciation, in preference to amortization, was lawful and dismissed the Revenue's appeal. en-us Fri, 17 Oct 2025 00:00:00 +0530 Mon, 04 May 2026 14:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782366 ITAT held that the assessee is entitled to depreciation on the "Right to Collect Toll" as an intangible asset. It found that under the DBFOT arrangement the assessee had deemed ownership, acquisition, and possession of the underlying project assets, which satisfies the ownership requirement for depreciation. The Tribunal rejected the Revenue's contention that physical ownership was necessary, noting that such a condition is impossible for intangible assets and that law does not require the impossible. Distinguishing earlier BOT-based HC decisions relied on by Revenue, ITAT held that the assessee's claim of depreciation, in preference to amortization, was lawful and dismissed the Revenue's appeal. Case-Laws Income Tax Fri, 17 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782366