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Right to collect toll is intangible asset & eligible for 25% depreciation: ITAT Delhi
Case Law Details
- Case Name
- BSC C and C Kurali Toll Road Ltd. Vs ACIT (ITAT Delhi)
- 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 Delhi
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BSC C and C Kurali Toll Road Ltd. Vs ACIT (ITAT Delhi)
BSC C and C Kurali Toll Road Ltd. (the appellant) contested a decision made by the Commissioner of Income-tax (Appeals) (CIT(A)) for the Assessment Year 2014-15. The dispute revolves around several issues concerning the treatment of toll collection rights and associated costs.
Key issue: Depreciation on Toll Collection Rights:
The appellant claimed depreciation on the toll collection rights at a rate of 25% under the category of intangible assets, as specified under Section 32(1)(ii) of the Income Tax Act. However, the CIT(A) allowed depre...
