https://www.taxtmi.com/caselaws?id=213209 The Tribunal upheld the CIT(A)'s decision, allowing the assessee's claim for depreciation on intangible assets acquired from AFL Pvt Ltd. The Tribunal determined that the transfer agreement specifically included intangible assets eligible for depreciation under Section 32(1)(ii) of the Income Tax Act. The revenue's arguments regarding non-compete fees, enforcement rights, and the timing of the transfer agreement were dismissed, and the appeal by the revenue was rejected. en-us Fri, 30 Mar 2012 00:00:00 +0530 Wed, 13 Apr 2016 18:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213209 The Tribunal upheld the CIT(A)'s decision, allowing the assessee's claim for depreciation on intangible assets acquired from AFL Pvt Ltd. The Tribunal determined that the transfer agreement specifically included intangible assets eligible for depreciation under Section 32(1)(ii) of the Income Tax Act. The revenue's arguments regarding non-compete fees, enforcement rights, and the timing of the transfer agreement were dismissed, and the appeal by the revenue was rejected. Case-Laws Income Tax Fri, 30 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213209