https://www.taxtmi.com/caselaws?id=307681 The Tribunal upheld the CIT(A)'s decisions favoring the assessee in a case involving various disallowances by the Revenue. The disallowance of depreciation on Non-compete Fee was allowed as an intangible asset, interest on borrowed funds and funds given to/received from a sister concern were not disallowed, and additions under section 41(1) and deferred revenue expenditure were also upheld in favor of the assessee. The Tribunal dismissed the Revenue's appeal on all grounds, affirming the CIT(A)'s decisions. The appeal was concluded on August 5, 2022. en-us Fri, 05 Aug 2022 00:00:00 +0530 Fri, 28 Apr 2023 21:22:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307681 The Tribunal upheld the CIT(A)'s decisions favoring the assessee in a case involving various disallowances by the Revenue. The disallowance of depreciation on Non-compete Fee was allowed as an intangible asset, interest on borrowed funds and funds given to/received from a sister concern were not disallowed, and additions under section 41(1) and deferred revenue expenditure were also upheld in favor of the assessee. The Tribunal dismissed the Revenue's appeal on all grounds, affirming the CIT(A)'s decisions. The appeal was concluded on August 5, 2022. Case-Laws Income Tax Fri, 05 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307681