Right to Collect Toll falls within Definition of Commercial Right or ‘Intangible Asset’, Eligible for Depreciation: ITAT [Read Order]

Collect - Toll - Definition - Commercial - Right - Intangible - Asset - ITAT - TAXSCAN

The Income Tax Appellate Tribunal, Pune Bench, has recently, in an appeal filed before it, held that the right to collect toll falls within the definition of commercial rights or intangible asset, and hence that the same is eligible for depreciation. The aforesaid observation was made by the Tribunal, when an appeal was preferred before…

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