Depreciation on road construction admissible since BOT project given rise to an intangible asset: ITAT Delhi

Kurukshetra Expressway Pvt Ltd Vs DCIT (ITAT Delhi) ITAT Delhi held that expenditure in Built Operate and Transfer (BOT) project giving rise to an intangible assets eligible for claiming depreciation @25% on road construction admissible. Facts- The appellant/assessee is a Special Purpose Vehicle incorporated for carrying out construction, operation and transfer of a stretch of the Rohtak Bawal Highway Project on Built Operate and Transfer (BOT) basis. Appellant claimed depreciation of Rs. 2,04,32,08,982/- viz. @25% on the right to collect toll granted to the appellant due to its capital invest...