https://www.taxtmi.com/caselaws?id=413190 The High Court upheld the Tribunal's decision to allow depreciation on non-compete fees, considering them as intangible assets under Section 32 of the Income Tax Act, 1961. The Court emphasized that such fees qualified as intangible assets, providing enduring benefits akin to other business or commercial rights. Citing precedents and legal principles, the Court dismissed the appeal, finding no substantial question of law and affirming the Tribunal's analysis and application of the law in determining the treatment of non-compete fees. en-us Thu, 30 Sep 2021 00:00:00 +0530 Tue, 05 Oct 2021 20:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413190 The High Court upheld the Tribunal's decision to allow depreciation on non-compete fees, considering them as intangible assets under Section 32 of the Income Tax Act, 1961. The Court emphasized that such fees qualified as intangible assets, providing enduring benefits akin to other business or commercial rights. Citing precedents and legal principles, the Court dismissed the appeal, finding no substantial question of law and affirming the Tribunal's analysis and application of the law in determining the treatment of non-compete fees. Case-Laws Income Tax Thu, 30 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413190