https://www.taxtmi.com/caselaws?id=791020 Concession rights acquired under a DBFOT highway agreement were treated as an intangible asset for depreciation purposes. The concession gave the assessee exclusive rights, licence and authority to construct, operate and maintain the project during the concession period in return for its investment, and the valuable commercial right to operate the facility and recover the investment through annuity fell within section 32(1)(ii) as a licence or similar business right. The view that the claim was depreciation on the toll road itself was rejected as a misreading of the claim. The same expenditure could alternatively be amortised over the concession period, reinforcing the revenue-neutral character of the issue, and the depreciation disallowance was to be deleted. en-us Thu, 23 Apr 2026 00:00:00 +0530 Tue, 05 May 2026 09:09:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791020 Concession rights acquired under a DBFOT highway agreement were treated as an intangible asset for depreciation purposes. The concession gave the assessee exclusive rights, licence and authority to construct, operate and maintain the project during the concession period in return for its investment, and the valuable commercial right to operate the facility and recover the investment through annuity fell within section 32(1)(ii) as a licence or similar business right. The view that the claim was depreciation on the toll road itself was rejected as a misreading of the claim. The same expenditure could alternatively be amortised over the concession period, reinforcing the revenue-neutral character of the issue, and the depreciation disallowance was to be deleted. Case-Laws Income Tax Thu, 23 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791020