https://www.taxtmi.com/caselaws?id=365175 The Tribunal dismissed all three appeals by the Revenue regarding the disallowance of depreciation on non-compete territory rights. The Tribunal emphasized the need for the Assessing Officer to either thoroughly address the issue in the original assessment or follow the outcome of the assessment year 2002-03. It was noted that the AO did not provide independent reasons for disallowance and failed to examine the matter on its merits. The CIT(A) had allowed the depreciation in the initial round, indicating that it should be granted to the assessee. en-us Wed, 01 Aug 2018 00:00:00 +0530 Fri, 21 Sep 2018 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365175 The Tribunal dismissed all three appeals by the Revenue regarding the disallowance of depreciation on non-compete territory rights. The Tribunal emphasized the need for the Assessing Officer to either thoroughly address the issue in the original assessment or follow the outcome of the assessment year 2002-03. It was noted that the AO did not provide independent reasons for disallowance and failed to examine the matter on its merits. The CIT(A) had allowed the depreciation in the initial round, indicating that it should be granted to the assessee. Case-Laws Income Tax Wed, 01 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365175