Depreciation allowable on Toll Collection Rights: ITAT [Read Order]

Depreciation - Toll Collection Rights - ITAT - Taxscan

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the depreciation under section 32 of the Income Tax Act, 1961 is allowable on toll collection rights as the same would be trated as ‘capital asset’. The assessee, Rohan & Rajdeep Infrastructure claimed depreciation on the same. However, the AO has amortized…

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