Depreciation Allowed on Indian Railways License: License Classified as Capital Asset u/s 32(1)(ii) of Income Tax Act.

Disallowance on account of depreciation on intangible assets being value of license acquired from the Indian Railways for running the container trains on Indian Railways - commercial right acquired by the assessee by way of this license for an enduring benefit would amount to capital asset and eligible for depreciation u/s 32(1)(ii) - AT .....

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