https://www.taxtmi.com/caselaws?id=407085 The Tribunal allowed depreciation on Non compete fees, Distribution network rights, Customer list, and Goodwill, overturning the disallowance made by the Assessing Officer and upheld by the CIT(A). The Tribunal directed to allow depreciation on Goodwill as well, in line with precedent. The appeal was partly allowed, granting depreciation on the intangible assets' opening written down value. The matter of an additional payment on Non compete fees was remitted to the Assessing Officer for further examination. en-us Thu, 29 Apr 2021 00:00:00 +0530 Fri, 30 Apr 2021 08:24:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407085 The Tribunal allowed depreciation on Non compete fees, Distribution network rights, Customer list, and Goodwill, overturning the disallowance made by the Assessing Officer and upheld by the CIT(A). The Tribunal directed to allow depreciation on Goodwill as well, in line with precedent. The appeal was partly allowed, granting depreciation on the intangible assets' opening written down value. The matter of an additional payment on Non compete fees was remitted to the Assessing Officer for further examination. Case-Laws Income Tax Thu, 29 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407085