https://www.taxtmi.com/caselaws?id=261914 The court ruled in favor of the assessee regarding entitlement to depreciation for the hotel building, WTT, and WTC under Section 32 of the Income Tax Act. It also held that amounts received from sub-licensees were not taxable as trading receipts. The court affirmed the ITAT's decision on the deferred license fee deduction and depreciation calculation based on foreign exchange rate fluctuations. The court did not address the investment allowance issue pending the outcome of the ITAT Special Bench decision. en-us Fri, 24 Jul 2015 00:00:00 +0530 Tue, 03 May 2016 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261914 The court ruled in favor of the assessee regarding entitlement to depreciation for the hotel building, WTT, and WTC under Section 32 of the Income Tax Act. It also held that amounts received from sub-licensees were not taxable as trading receipts. The court affirmed the ITAT's decision on the deferred license fee deduction and depreciation calculation based on foreign exchange rate fluctuations. The court did not address the investment allowance issue pending the outcome of the ITAT Special Bench decision. Case-Laws Income Tax Fri, 24 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261914