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2022 (1) TMI 1273 - AT - Income TaxDepreciation on cost of construction of Roads against which the assessee has been made entitled to collect toll tax. - Disallowance of depreciation @ 25% on “License to collect toll” as treated as intangible asset - assessee submitted that the expenditure incurred by it on constructing and maintenance of road facility was actually incurred towards “Acquiring right to collect toll” which formed an `Intangible asset’ eligible for depreciation u/s.32(1)(ii) - CIT(A) deleted the disallowance - HELD THAT:- Vide order . [2017 (11) TMI 1998 - ITAT PUNE] dealt with such issue and held the assessee to be eligible for depreciation on the “Right to collect toll”, being, an intangible asset. The Tribunal, in turn, followed another order of the Coordinate Bench in Ashoka Highways (Bhandara) . [2017 (10) TMI 579 - ITAT PUNE] which held that the cost of constructing road was akin to “Right to collect toll”, being, an intangible asset. The ld. DR fairly admitted the position in this regard. Respectfully following the Tribunal order passed in the assessee’s own case for the immediately preceding two assessment years, we uphold the impugned order. - Decided against revenue.
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