https://www.taxtmi.com/caselaws?id=344069 The Tribunal upheld the validity of reassessment proceedings under Sections 147/148, citing misrepresentation by the assessee. Depreciation on "Government Authorizations" and non-compete fees was disallowed, as they were not eligible assets. Non-compete fees were deemed personal rights, not qualifying for depreciation. Goodwill depreciation was permitted, with computation instructions based on asset and liability values. en-us Mon, 29 May 2017 00:00:00 +0530 Thu, 08 Jun 2017 05:58:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344069 The Tribunal upheld the validity of reassessment proceedings under Sections 147/148, citing misrepresentation by the assessee. Depreciation on "Government Authorizations" and non-compete fees was disallowed, as they were not eligible assets. Non-compete fees were deemed personal rights, not qualifying for depreciation. Goodwill depreciation was permitted, with computation instructions based on asset and liability values. Case-Laws Income Tax Mon, 29 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344069