https://www.taxtmi.com/caselaws?id=186520 The appeal against the order under section 263 of the Income-tax Act regarding the allowance of depreciation on Non-compete Fee was dismissed. The Commissioner's direction for re-examination of the acquisition, payment, valuation, and benefit related to the Non-compete Fee was upheld by the Tribunal. The assessment order's lack of discussion on the Non-compete Fee issue was deemed crucial for correcting errors prejudicial to the Revenue's interest. The decision under section 263 was upheld as justified, affirming the Commissioner's findings and dismissing the assessee's appeal. en-us Fri, 23 Nov 2007 00:00:00 +0530 Wed, 21 Sep 2016 14:47:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186520 The appeal against the order under section 263 of the Income-tax Act regarding the allowance of depreciation on Non-compete Fee was dismissed. The Commissioner's direction for re-examination of the acquisition, payment, valuation, and benefit related to the Non-compete Fee was upheld by the Tribunal. The assessment order's lack of discussion on the Non-compete Fee issue was deemed crucial for correcting errors prejudicial to the Revenue's interest. The decision under section 263 was upheld as justified, affirming the Commissioner's findings and dismissing the assessee's appeal. Case-Laws Income Tax Fri, 23 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186520