https://www.taxtmi.com/caselaws?id=326473 Depreciation on an acquired trademark was allowable where the mark was assigned with the business as a going concern and the assessee obtained beneficial ownership and commercial use rights. Registration in the assessee's name was not the test for depreciation, because an unregistered trademark can still have enforceable commercial value and qualifies as an intangible asset under the depreciation rules. The objection based on alleged non-use also failed since the business continued under the same mark and there was no material to doubt its use. en-us Tue, 08 Mar 2016 00:00:00 +0530 Sat, 16 Apr 2016 10:40:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326473 Depreciation on an acquired trademark was allowable where the mark was assigned with the business as a going concern and the assessee obtained beneficial ownership and commercial use rights. Registration in the assessee's name was not the test for depreciation, because an unregistered trademark can still have enforceable commercial value and qualifies as an intangible asset under the depreciation rules. The objection based on alleged non-use also failed since the business continued under the same mark and there was no material to doubt its use. Case-Laws Income Tax Tue, 08 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326473