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2020 (12) TMI 1107 - ITAT CHENNAIDepreciation on customer list and goodwill - Depreciation at the rate of 25% treating them as an intangible asset - HELD THAT:- As decided in own case [2018 (7) TMI 2071 - ITAT CHENNAI] customer list has been treated as falling within the expression “business or commercial rights of similar nature” contained in Sec.32(1)(ii) as relied upon the decision of M/s.Areva T & D India Ltd.[2012 (4) TMI 79 - DELHI HIGH COURT] Assessee is entitled to the depreciation on the intangible asset viz., goodwill/customer list as claimed by him - Decided in favour of assessee.
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