Depreciation not allowable on non-compete fee

IN THE ITAT CHENNAI BENCH ‘A’ Arkema Peroxides India (P.) Ltd. versus Assistant Commissioner of Income-tax IT Appeal No. 2212 (Mds.) of 2006 [ASSESSMENT YEAR 2003-04] JANUARY  13, 2012 ORDER N.S. Saini, Accountant Member This is an appeal filed by the assessee for the assessment year 2003-04 against the order dated September 22, 2006 of the Commissioner of Income-tax-III, Chennai. 2. Ground Nos. 1 and 2 of the appeal read as under : “1. The learned Commissioner of Income-tax (Appeals) has erred in dismissing the ground of appeal against the Assessing Officer...