https://www.taxtmi.com/caselaws?id=445228 Depreciation on non-compete fees is unavailable where the payment does not fall within the statutory category of eligible intangible assets under section 32(1)(ii) of the Income-tax Act. The claim was therefore disallowed. Carry-forward and set-off of losses following amalgamation require satisfaction of the statutory conditions under section 72A. As those conditions were not met, the claimed set-off was disallowed for the relevant year. The additions relating to both depreciation and brought-forward losses were sustained, and the assessee's appeal failed entirely. en-us Mon, 30 Oct 2023 00:00:00 +0530 Fri, 03 Nov 2023 13:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445228 Depreciation on non-compete fees is unavailable where the payment does not fall within the statutory category of eligible intangible assets under section 32(1)(ii) of the Income-tax Act. The claim was therefore disallowed. Carry-forward and set-off of losses following amalgamation require satisfaction of the statutory conditions under section 72A. As those conditions were not met, the claimed set-off was disallowed for the relevant year. The additions relating to both depreciation and brought-forward losses were sustained, and the assessee's appeal failed entirely. Case-Laws Income Tax Mon, 30 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445228