https://www.taxtmi.com/caselaws?id=239880 The Court ruled in favor of the assessee, allowing depreciation on the non-compete fee as an intangible asset under Section 32(1)(ii) of the Income Tax Act, 1961. The Court held that the non-compete fee should be considered a commercial right eligible for depreciation, as it supported the intellectual property rights transferred to the assessee. The Tribunal's decision was set aside, and the appeal was allowed without costs. en-us Tue, 29 Oct 2013 00:00:00 +0530 Tue, 05 May 2026 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239880 The Court ruled in favor of the assessee, allowing depreciation on the non-compete fee as an intangible asset under Section 32(1)(ii) of the Income Tax Act, 1961. The Court held that the non-compete fee should be considered a commercial right eligible for depreciation, as it supported the intellectual property rights transferred to the assessee. The Tribunal's decision was set aside, and the appeal was allowed without costs. Case-Laws Income Tax Tue, 29 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239880