Disallowance on account of depreciation on the right to collect ...

Depreciation on Toll Road Annuity Rights Allowed as Intangible Asset u/s 32(1)(ii) of Income Tax Act.

December 8, 2021

Case Laws Income Tax AT

Disallowance on account of depreciation on the right to collect annuity on toll roads - Entire investment/finance for developing the infrastructure facility was borne by the assessee. By making such investment what the assessee received in return was a right to collect annuity over the period of concession. Thus, the investment made by the assessee for acquiring such right certainly is an intangible asset coming within the purview of section 32(1)(ii) - AT

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Disallowance on account of depreciation on the right to collect ...

Depreciation on Toll Road Annuity Rights Allowed as Intangible Asset u/s 32(1)(ii) of Income Tax Act.

December 8, 2021

Case Laws Income Tax AT

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