Upfront fees paid to AAI is a commercial right entitled to depreciation @ 25%

Advocate Akhilesh Kumar Sah Mumbai International Airport : Upfront fees paid to the Airports Authority of India (AAI) is a commercial right entitled to depreciation @ 25% relating to intangible assets Section 32(1) of the Income Tax Act, 1961 (for short ‘the Act’) takes into ambit the intangible assets as know-how, patents, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature, being intangible assets acquired on or after the 1st day of April, 1998. Recently, in Mumbai International Airport P Ltd. vs. DCIT & vice-versa [ITA No.4382/M...