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2015 (4) TMI 1321 - AT - Income TaxDepreciation on intangible assets - 25% depreciation on Non-compete fee - CIT-A allowed the appeal of the assessee - HELD THAT:- Similar issue was considered in the case of Pentasoft Technologies Ltd [2013 (11) TMI 1057 - MADRAS HIGH COURT] wherein it was held that assets like trademark, patents and other rights are similar in nature are intangible assets, which in terms of section 32(1) (ii) of the Act would be a capital assets entitled to depreciation. In view of the order of the jurisdictional High Court, we are inclined to confirm the order of the Commissioner of Income Tax (Appeals). - Decided against revenue.
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