https://www.taxtmi.com/caselaws?id=381465 The appeal was partly allowed by the Tribunal, directing the Assessing Officer to allow depreciation on non-compete fee at 25% as an intangible asset. The Tribunal also restored the issue of depreciation on various fixed assets for fresh adjudication. Disallowances of interest expenditure on borrowed funds for investments in subsidiaries and on interest-free loans to a subsidiary were deleted. The Tribunal directed adjustments to arm's length pricing for interest-free loans and corporate guarantees. Additionally, the Tribunal directed deletion of the addition on account of foreign exchange gain and instructed verification and grant of TDS credit as per law. en-us Fri, 07 Jun 2019 00:00:00 +0530 Wed, 12 Jun 2019 06:49:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381465 The appeal was partly allowed by the Tribunal, directing the Assessing Officer to allow depreciation on non-compete fee at 25% as an intangible asset. The Tribunal also restored the issue of depreciation on various fixed assets for fresh adjudication. Disallowances of interest expenditure on borrowed funds for investments in subsidiaries and on interest-free loans to a subsidiary were deleted. The Tribunal directed adjustments to arm's length pricing for interest-free loans and corporate guarantees. Additionally, the Tribunal directed deletion of the addition on account of foreign exchange gain and instructed verification and grant of TDS credit as per law. Case-Laws Income Tax Fri, 07 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381465