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Depreciation on non compete fee not allowable: ITAT Delhi
Case Law Details
- Case Name
- Sagar Ratna Restaurants Pvt. Ltd. Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Delhi
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Sagar Ratna Restaurants Pvt. Ltd. Vs ACIT (ITAT Delhi)
It is evident, by virtue of an agreement entered in June 2011, assessee acquired a restaurant in the name and style of Sagar Ratna. As per the terms of the agreement, the transferor had transferred all its rights, copyrights, trademarks etc. in respect of the restaurant Sagar Ratna. It appears from record, assessee treated the payment made towards non compete fee to the transferor as capital expenditure in the year of acquisition and assessee’s claim of depreciation on such expenditure in assessment years 2012-13 and 201...
