Depreciation allowable on payments to acquire skill and know-how of incoming employees as ‘business information’ classified as other intangiblle Asset

Court: Bangalore bench of the Income-tax Appellate Tribunal

Citation: Bosch Ltd. Vs. CIT [2009-TIOL-736-ITAT-BANG]

Brief :Bangalore bench of the Income Tax Appellate Tribunal (the Tribunal) in the case of Bosch Ltd. Vs. CIT [2009-TIOL-736-ITAT-BANG] held that the taxpayer company was entitled to claim depreciation on the skill and the know-how brought by the employees of the transferee company classified as ‘business information’ under t

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