Depreciation u/s. 32 available on non-compete fees

Abbott Healthcare Private Limited Vs ACIT (ITAT Mumbai)

Held that non-compete fees, being an intangible asset, paid in accordance with the terms of the agreement is eligible for depreciation u/s 32

Facts-

During assessment proceedings AO questioned assessee’s claim of depreciation on Non-compete Fee and disallowed claim of deprecation of Rs.128.38 crores on Non-compete Fee. The assessee carried the issue in appeal before the CIT(A). Before the CIT(A) the assessee

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