https://www.taxtmi.com/caselaws?id=429430 The High Court upheld the decisions of the appellate authorities, allowing the Assessee to claim depreciation on exclusive business rights and intellectual property rights. Goodwill was deemed not depreciable under Section 32(1)(ii). The court emphasized that registration of trademarks was not necessary for claiming depreciation, affirming the principle that the tax benefit of depreciation belongs to the investor and user of the capital asset. The Revenue's appeals were dismissed, and the Assessee's depreciation claims were upheld in accordance with the Income Tax Act provisions. en-us Mon, 17 Oct 2022 00:00:00 +0530 Mon, 27 Feb 2023 14:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429430 The High Court upheld the decisions of the appellate authorities, allowing the Assessee to claim depreciation on exclusive business rights and intellectual property rights. Goodwill was deemed not depreciable under Section 32(1)(ii). The court emphasized that registration of trademarks was not necessary for claiming depreciation, affirming the principle that the tax benefit of depreciation belongs to the investor and user of the capital asset. The Revenue's appeals were dismissed, and the Assessee's depreciation claims were upheld in accordance with the Income Tax Act provisions. Case-Laws Income Tax Mon, 17 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429430