Right to operate toll roads & collect toll charges is an intangible asset

ACIT Vs Progressive Constructions Ltd. (ITAT Hyderabad)

ITAT ruled that the right to operate toll roads and collect toll charges should be classified as an ‘intangible asset’ and can also be regarded as a business or commercial right. The Tribunal emphasized that a project developer cannot finalize the project without investing in the project asset. Therefore, until the project is completed, the right to collect toll charges does not come into existence. Consequently, the right to collect toll charges is considered an intangible asset, allow

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