https://www.taxtmi.com/caselaws?id=69913 The Tribunal dismissed both the Revenue's appeal and the assessee's cross-objection. It confirmed that non-compete fees qualify as intangible assets eligible for depreciation under Section 32(1)(ii) of the Income Tax Act, 1961. Additionally, the Tribunal upheld the reopening of the assessment, finding it justified under Section 148, and confirmed the treatment of non-compete fees as capital expenditure, aligning with the jurisdictional HC's decision. en-us Fri, 15 Feb 2008 00:00:00 +0530 Tue, 16 Jan 2024 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69913 The Tribunal dismissed both the Revenue's appeal and the assessee's cross-objection. It confirmed that non-compete fees qualify as intangible assets eligible for depreciation under Section 32(1)(ii) of the Income Tax Act, 1961. Additionally, the Tribunal upheld the reopening of the assessment, finding it justified under Section 148, and confirmed the treatment of non-compete fees as capital expenditure, aligning with the jurisdictional HC's decision. Case-Laws Income Tax Fri, 15 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69913