Toll Way Rights are Intangible Assets: ITAT allows 25% Depreciation

The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the tollway charges, being an intangible asset, are eligible for 25% depreciation under the Income Tax Act, 1961. The Assessing officer, while completing the assessment against the assessee, held that the tollway rights are not an intangible asset under section 32(1)(ii) of the Income […]

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