https://www.taxtmi.com/caselaws?id=178587 The Tribunal allowed depreciation on non-compete fees, directing the Assessing Officer to permit depreciation on the amount, citing precedents supporting depreciation on such fees as intangible assets. However, the disallowance of preliminary expenditure under section 35D of the Act was upheld, as the professional fees were not covered by the Act. The judgment clarified the treatment of non-compete fees and upheld the eligibility for depreciation, ensuring compliance with legal provisions and precedents. en-us Wed, 07 Sep 2011 00:00:00 +0530 Tue, 10 Oct 2017 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178587 The Tribunal allowed depreciation on non-compete fees, directing the Assessing Officer to permit depreciation on the amount, citing precedents supporting depreciation on such fees as intangible assets. However, the disallowance of preliminary expenditure under section 35D of the Act was upheld, as the professional fees were not covered by the Act. The judgment clarified the treatment of non-compete fees and upheld the eligibility for depreciation, ensuring compliance with legal provisions and precedents. Case-Laws Income Tax Wed, 07 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178587