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Upfront fees paid to AAI is a commercial right entitled to depreciation @ 25%
Case Law Details
- Case Name
- Mumbai International Airport P Ltd. Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Mumbai
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Advocate Akhilesh Kumar Sah
Mumbai International Airport : Upfront fees paid to the Airports Authority of India (AAI) is a commercial right entitled to depreciation @ 25% relating to intangible assets
Section 32(1) of the Income Tax Act, 1961 (for short ‘the Act’) takes into ambit the intangible assets as know-how, patents, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature, being intangible assets acquired on or after the 1st day of April, 1998. Recently, in Mumbai International Airport P Ltd. vs. DCIT & vice-ver...
