It is impossible to presume that expression `licence’ provided in section 32(l)(ii) is an endless expression and even a tenancy right can be brought under it

DECIDED BY: ITAT, COCHIN BENCH, COCHIN, IN THE CASE OF: ACIT Vs. Malayala Manorama Co. Ltd., APPEAL NO: ITA NO. 323/Coch/2007, DECIDED ON JULY 10, 2009 RELEVANT  PARAGRAPHS 13. We heard both sides in detail. Section 32 (l)(ii) provides for depreciation on intangible assets acquired on or after the 1st day of April, 1998. Clause (ii) of sub section (1) of section 32 explains the nature of intangible assets as know how, patents, copy rights., trade mark, licenses, franchise or any other business or commercial rights of similar nature being intangible assets acquired on or after the first day of...