https://www.taxtmi.com/caselaws?id=274384 The ITAT dismissed the appeal filed by the Revenue regarding the disallowance of depreciation on non-compete territory rights for Assessment Year 2004-05. The decision was based on the Co-ordinate Bench's ruling, which upheld the CIT(A)'s reasoned order and emphasized the lack of independent reasons for disallowance by the A.O. The ITAT noted the revenue authorities' inaction on the issue and declined to interfere, citing jurisdictional constraints and the absence of adverse comments on the claim's merits. The appeal was dismissed in favor of the assessee, affirming the deletion of the disallowance of depreciation. en-us Fri, 11 May 2018 00:00:00 +0530 Thu, 13 Sep 2018 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274384 The ITAT dismissed the appeal filed by the Revenue regarding the disallowance of depreciation on non-compete territory rights for Assessment Year 2004-05. The decision was based on the Co-ordinate Bench's ruling, which upheld the CIT(A)'s reasoned order and emphasized the lack of independent reasons for disallowance by the A.O. The ITAT noted the revenue authorities' inaction on the issue and declined to interfere, citing jurisdictional constraints and the absence of adverse comments on the claim's merits. The appeal was dismissed in favor of the assessee, affirming the deletion of the disallowance of depreciation. Case-Laws Income Tax Fri, 11 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274384