https://www.taxtmi.com/caselaws?id=346604 The High Court held that the Rs. 75 lakhs received as a non-compete fee by the individual constituted a revenue receipt, not a capital receipt. Additionally, the Court ruled that brand equity qualifies as an intangible asset eligible for depreciation under Section 32(1)(ii) of the Income Tax Act. The Court decided in favor of the Revenue regarding the non-compete fee issue and in favor of the assessee regarding the brand equity depreciation issue. The appeals were concluded with no order as to costs. en-us Tue, 08 Aug 2017 00:00:00 +0530 Tue, 26 Sep 2017 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346604 The High Court held that the Rs. 75 lakhs received as a non-compete fee by the individual constituted a revenue receipt, not a capital receipt. Additionally, the Court ruled that brand equity qualifies as an intangible asset eligible for depreciation under Section 32(1)(ii) of the Income Tax Act. The Court decided in favor of the Revenue regarding the non-compete fee issue and in favor of the assessee regarding the brand equity depreciation issue. The appeals were concluded with no order as to costs. Case-Laws Income Tax Tue, 08 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346604