“Rights to Build and Operate Toll Road” are Intangible Assets, Depreciation Allowable: ITAT [Read Order]

Rights to Build and Operate Toll Road - Intangible Assets - Depreciation Allowable - ITAT - TAXSCAN

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the rights to build and operate toll road are considered as tangible assets and the depreciation shall be allowed. The assessee is engaged in the business of Prime multi-disciplinary organization providing a full range of consultancy, design & engineering services in various fields…

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