https://www.taxtmi.com/caselaws?id=405916 The High Court dismissed the appeal, ruling in favor of the assessee on all issues. Depreciation was allowed on property acquired in exchange for relinquishing tenancy rights and on the non-compete fee. The excess net book value over consideration paid for acquiring companies was held not taxable under Section 28(iv). The court found the decision in Aries Advertising Co. Ltd. inapplicable to the case. en-us Thu, 25 Mar 2021 00:00:00 +0530 Fri, 02 Jul 2021 15:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405916 The High Court dismissed the appeal, ruling in favor of the assessee on all issues. Depreciation was allowed on property acquired in exchange for relinquishing tenancy rights and on the non-compete fee. The excess net book value over consideration paid for acquiring companies was held not taxable under Section 28(iv). The court found the decision in Aries Advertising Co. Ltd. inapplicable to the case. Case-Laws Income Tax Thu, 25 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405916