https://www.taxtmi.com/caselaws?id=275962 A right acquired under a non-compete arrangement may qualify as an intangible commercial or business right eligible for depreciation, and the characterisation of the payment as goodwill or non-compete fee does not by itself defeat that claim. On software purchases that were capitalised, depreciation cannot be disallowed under section 40(a)(i) because that provision applies to sums otherwise deductible as expenditure, not to a statutory depreciation allowance on a capital asset. The proper consequence for any tax withholding default lies elsewhere, so the disallowance was held unsustainable and the assessee's relief was sustained. en-us Fri, 15 Jun 2018 00:00:00 +0530 Wed, 24 Oct 2018 08:54:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275962 A right acquired under a non-compete arrangement may qualify as an intangible commercial or business right eligible for depreciation, and the characterisation of the payment as goodwill or non-compete fee does not by itself defeat that claim. On software purchases that were capitalised, depreciation cannot be disallowed under section 40(a)(i) because that provision applies to sums otherwise deductible as expenditure, not to a statutory depreciation allowance on a capital asset. The proper consequence for any tax withholding default lies elsewhere, so the disallowance was held unsustainable and the assessee's relief was sustained. Case-Laws Income Tax Fri, 15 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275962