https://www.taxtmi.com/caselaws?id=470643 A BOT concessionaire's time-bound right to collect toll is described as a cost-recovery mechanism rather than an intangible asset qualifying for depreciation under Section 32(1)(ii). Because the highway remains public property and the concessionaire receives only toll-collection rights in return for construction and maintenance, that right is not treated as a licence, franchise, or analogous business or commercial right under Explanation 3(b). The development cost is instead amortised over the concession period under the applicable circular. The discussion distinguishes depreciation claimed on a toll road as a building from depreciation claimed on the toll-collection right itself. en-us Tue, 06 Aug 2024 00:00:00 +0530 Mon, 03 Aug 2026 19:04:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470643 A BOT concessionaire's time-bound right to collect toll is described as a cost-recovery mechanism rather than an intangible asset qualifying for depreciation under Section 32(1)(ii). Because the highway remains public property and the concessionaire receives only toll-collection rights in return for construction and maintenance, that right is not treated as a licence, franchise, or analogous business or commercial right under Explanation 3(b). The development cost is instead amortised over the concession period under the applicable circular. The discussion distinguishes depreciation claimed on a toll road as a building from depreciation claimed on the toll-collection right itself. Case-Laws Income Tax Tue, 06 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470643