Depreciation not allowable on non-compete fee

Fortis Hospitals LTD. Vs ACIT (Delhi High Court)

The appellant had entered into a Business Transfer Agreement with Wockhardt Hospitals Ltd. on 24.08 .2009, for acquiring a business division of Wockhardt Hospitals Ltd. consisting of ten hospitals situated in the cities of Bangalore, Kolkata and geographical limits of Eastern Mumbai. The appellant claims to have also paid non-compete fee of ₹15.50 crores to Wockhardt Hospitals Ltd. for not directly or indirectly carrying on the business of hospital and related services for a period of three years in the

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