S. 32(1)(ii) Depreciation on non-compete fee as intangible assets: HC sends matter back to AO

DCIT vs. Caparo Engineering India P. Ltd (ITAT Delhi) HC held that Assessing Officer shall re-decide this issue afresh after comparing the facts in the case of the assessee with the case of Delhi High Court in Sharp Business Systems (supra) in accordance with law and give clear finding how the case of assessee is covered or not covered by the decision of Delhi High Court in the case of Sharp Business Systems. We may point out that in the case of the assessee there was no joint venture between the person paying the non competition fee and the person receiving the non competition fee. Both the ...