Acquisition cost of toll collection rights by SPV is depreciable as an intangible asset; revision under section 263 quashed.
Acquisition cost of toll collection rights by SPV is depreciable as an intangible asset; revision under section 263 quashed. Issue Whether the Principal Commissioner of Income Tax (PCIT) was justified in invoking section 263 on the ground that the Assessing Officer allowed depreciation on intangible assets without making necessary inquiries. Whether CBDT Circular No. 9/2014,… Read More »