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2018 (7) TMI 744 - AT - Income TaxDepreciation on account of non compete fee - Fee paid on account of trade and commerce and is a commercial right to enforce performance of the terms of the agreement Held that:- Non-compete fee paid is an intangible asset acquired by the assessee on which depreciation has to be allowed u/s. 32(1)(ii) of the act. See case of Ingersoll Rand International Ltd. [2014 (6) TMI 934 - KARNATAKA HIGH COURT]
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