Company Acquires Imidachlorpid Business; Depreciation Allowed on Intangible Assets Per Income Tax Act Section 32 & 40A(2)(b.

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....Allowability of depreciation intangible rights/assets - company had purchased Imidachlorpid business on slump sale from a company which is not a related concern u/s 40A(2)(b) - The valuation of Intangible assets and marketing rights have been done in accordance with the AS 10 issued by the ICAI - depreciation u/s 32 is allowable both on the intangible assets as well as marketing rights....