High Court remits cases to Tribunal for fresh examination on depreciation & non-compete fees

The Hon'ble High Court remitted the cases back to the Tribunal for a fresh examination of the issue within twelve weeks. The original orders disallowed depreciation on IPRs and non-compete fee based on a previous decision. The Sr. Counsel argued for distinguishing the case and cited precedents allowing depreciation on non-compete fees. The Tribunal remitted the issue to the Assessing Officer for a fresh decision based on relevant case law, allowing the appeals for statistical purposes and dismissing the miscellaneous petitions as infructuous. The final order was pronounced on 21.12.2011.

---

---

Issues involved: Remittal of cases back to the Tribunal by the Hon'ble High Court for fresh examination of the issue within a specified timeframe.

Summary:
The Hon'ble High Court remitted the cases back to the Tribunal directing a fresh examination of the issue within twelve weeks. The original orders disallowed depreciation claimed on IPRs and non-compete fee based on a previous decision. The Sr. Counsel argued that the case was distinguishable and cited other decisions where depreciation on non-compete fee was allowed. The High Court's direction necessitated a reevaluation of the issue. Since certain decisions were not considered previously, the Tribunal decided to remit the issue back to the Assessing Officer for a fresh decision based on relevant case law. Consequently, the appeals were allowed for statistical purposes. The miscellaneous petitions were dismissed as they had become infructuous. The final order was pronounced on 21.12.2011.

---