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Depreciation allowable on Right to operate project facility & collect toll charges
Case Law Details
- Case Name
- DCIT Vs Progressive Constructions Ltd. (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Hyderabad
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DCIT Vs Progressive Constructions Ltd. (ITAT Hyderabad)
Expenditure incurred for gaining right to operate the project facility and collect toll charges resulted into an intangible asset eligible for depreciation
Conclusion: Expenditure incurred by assessee of Rs.214 crore for creating the project or project facilities had created an intangible asset in the form of right to operate the project facility and collect toll charges and assessee was eligible for depreciation under section 32(i)(ii).
Held: Government of India being desirous of implementing a project involving, constr...
