Taxability of annuity on road construction still a grey area

Road construction  projects are developed by the government in partnership with Private Sector projects (PPP) under various models: Build, Operate and Transfer (BOT) Model, BOT  Annuity  Model and Hybrid Annuity Model ( HAM ).  In both BOT Annuity Model and HAM, the consideration is received in two parts: at the time of construction of roads in forms of grants/upfront payments…