The Assessing Officer following the decision in CIT v. Noida Toll Bridge Co Ltd. (2013) 213 taxman 333 (All)(HC) restricted the depreciation on toll road to 10 %. The Tribunal following the decision in ACIT v. West Gujarat Expressway Ltd. (2017) 390 ITR 400 (Bom.)(HC) and ACIT v. Progressive Construction Ltd. (2018) 161 DTR 289 / 63 ITR 516 / 191 TTJ 549 (SB) (Hyd.)(Trib.), held that the assessee is entitle to depreciation at 25%. (dt. 18-5-2021) (AY. 2012-13, 2013-14)
BSC C & C Krunnli Toll Road Ltd. v. DCIT (2021) BCAJ-July-P. 49 (Delhi)(Trib.)
S. 32 : Depreciation-Intangible-Right to collect toll is an intangible asset-Entitle for depreciation at 25%.