https://www.taxtmi.com/caselaws?id=429584 The Tribunal allowed the cross objections by the assessee, permitting depreciation on "non-compete fees" as an intangible asset and dismissed the revenue's appeals for AY 2014-15 to 2016-17. Regarding foreign exchange losses, the Tribunal upheld the Ld CIT(A)'s decision, rejecting the enhanced depreciation claim for AY 2014-15 and 2015-16, and remanded the issue for fresh consideration in line with related case observations. The judgment clarified the eligibility of non-compete fees for depreciation and the application of sec.43A in foreign exchange loss cases, ensuring consistent tax law application. en-us Fri, 16 Sep 2022 00:00:00 +0530 Mon, 31 Oct 2022 15:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429584 The Tribunal allowed the cross objections by the assessee, permitting depreciation on "non-compete fees" as an intangible asset and dismissed the revenue's appeals for AY 2014-15 to 2016-17. Regarding foreign exchange losses, the Tribunal upheld the Ld CIT(A)'s decision, rejecting the enhanced depreciation claim for AY 2014-15 and 2015-16, and remanded the issue for fresh consideration in line with related case observations. The judgment clarified the eligibility of non-compete fees for depreciation and the application of sec.43A in foreign exchange loss cases, ensuring consistent tax law application. Case-Laws Income Tax Fri, 16 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429584