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2022 (8) TMI 1298 - AT - Income TaxDepreciation on non-compete fees u/s 32 - assessee claimed depreciation on Non-compete Fee being an intangible asset - HELD THAT:- In the present case payment of non-compete fee in accordance with terms of agreement between the assessee and Piramal Healthcare Ltd. is not disputed by the Revenue. Ergo, in light of the facts of case and the decision by Hon'ble Bombay High Court [2019 (6) TMI 891 - BOMBAY HIGH COURT] we hold that the assessee is eligible for depreciation u/s. 32 of the Act on Non-compete Fees paid being an intangible asset. The additional grounds of appeal raised by the assessee are thus, allowed.
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