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2016 (4) TMI 73 - AT - Income TaxAddition on account of disallowance of depreciation claim on intangible assets - Held that:- Assessee has not purchased any good will but has purchased license, interest, privilege, franchise etc. from M/s. DKD which are undisputedly covered by section 32(1)(ii) and, therefore, the depreciation is allowable and the ld. CIT (A) has allowed the depreciation on these intangible assets, and we have no hesitation in confirming the order of ld. CIT (A) on this aspect. - Decided in favour of assessee.
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