https://www.taxtmi.com/caselaws?id=411960 The High Court dismissed the revenue's appeals challenging the Income Tax Appellate Tribunal's decision on depreciation of non-compete fees. The Court held that non-compete fees did not confer an enduring benefit and should be treated as revenue expenditure, not qualifying for depreciation. Emphasizing the unique circumstances of each case, the Court ruled in favor of the assessee, highlighting the importance of individual case analysis. This judgment clarified the treatment of non-compete fees and underscored the need to consider case-specific factors in tax assessments. en-us Wed, 18 Aug 2021 00:00:00 +0530 Tue, 07 Sep 2021 08:06:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411960 The High Court dismissed the revenue's appeals challenging the Income Tax Appellate Tribunal's decision on depreciation of non-compete fees. The Court held that non-compete fees did not confer an enduring benefit and should be treated as revenue expenditure, not qualifying for depreciation. Emphasizing the unique circumstances of each case, the Court ruled in favor of the assessee, highlighting the importance of individual case analysis. This judgment clarified the treatment of non-compete fees and underscored the need to consider case-specific factors in tax assessments. Case-Laws Income Tax Wed, 18 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411960