No depreciation on development of roads/highways on BOT basis; development exp. to be amortized - CBDT clarifies

It has come to the notice of the Board that disputes have arisen as to whether the expe diture incurred on development and construction of infrastructural facilities like road /highways on Build-Operate-Transfer ('BOT') basis with right to collect toll is entitled for • epreciation under section 32(1)(ii) of the Act or the same can be amortized by treating it as n allowable business expenditure under the relevant provisions of the Income-tax Act, 196 ('Act')