Depreciation allowable on non-compete fee (intangible asset)

Piramal Glass Ltd. Vs DCIT (ITAT Mumbai)

The issue before us is, whether assessee’s claim of depreciation on non–compete fee @ 25% by treating it as an intangible asset is acceptable or not. As could be seen, this is a recurring dispute between the parties since the assessment year 1999–2000. Though, while deciding the issue in the assessment year 1999–2000, vide ITA no.4842/Mum./2004, dated 5^th April 2013, the Tribunal has disallowed assessee’s claim of depreciation on non–compete fee by treating

Please become a Premium member. If you are already a Premium member, login here to access the full content.