Toll Collection Right Deemed Intangible Asset: Depreciation allowed

Roadstar Investment Vs ACIT (ITAT Mumbai) Introduction: The case of Roadstar Investment vs ACIT, heard by the Mumbai ITAT, centers around the allowance of depreciation on the right to collect toll tax on infrastructure facilities. The appeal challenges the denial of depreciation by the Commissioner of Income Tax (Appeals) and seeks recognition of the right as an intangible asset under section 32(1)(ii) of the Income Tax Act. Detailed Analysis: 1. Background: Roadstar Investment Managers Ltd, formerly known as North Karnataka Expressway Ltd, filed an appeal against the assessment order passed u...