‘In personam’ rights such as non-compete fees cannot be treated as depreciable intangible assets

HIGH COURT OF DELHI Sharp Business System Versus Commissioner of Income-tax – III IT APPEAL No. 492 OF 2012 AND C.M. APPL. No. 14836 OF 2012 NOVEMBER 5, 2012 JUDGMENT S. Ravindra Bhat, J.  The following questions of law were framed for consideration by the Court: “1.  Whether on the facts and in the circumstances of the case the Tribunal erred in holding that non-compete fee paid aggregating to Rs.3,00,00,000/- was not allowable revenue deduction.?  2.  Whether on the facts and in the circumstances of the case, the Tribunal erred in holding that the non-compet...