https://www.taxtmi.com/caselaws?id=791939 Depreciation under section 32(1)(ii) of the Income-tax Act, 1961 was allowable on non-compete fees capitalised as an intangible asset. The assessee had treated the non-compete payment as part of business purchase arrangements and had consistently claimed depreciation on its written down value in earlier years. The same issue had already been decided in the assessee's favour for prior assessment years, and that reasoning was applied again for the years in question. On that basis, the claim for depreciation on the non-compete fee was allowed. en-us Mon, 18 May 2026 00:00:00 +0530 Wed, 20 May 2026 08:31:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791939 Depreciation under section 32(1)(ii) of the Income-tax Act, 1961 was allowable on non-compete fees capitalised as an intangible asset. The assessee had treated the non-compete payment as part of business purchase arrangements and had consistently claimed depreciation on its written down value in earlier years. The same issue had already been decided in the assessee's favour for prior assessment years, and that reasoning was applied again for the years in question. On that basis, the claim for depreciation on the non-compete fee was allowed. Case-Laws Income Tax Mon, 18 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791939