ITAT allows Depreciation on Non-compete fees & Market information

Chemetall Rai India Limited Vs DCIT (ITAT Pune)

The only question is about the denial of depreciation on two categories of Intangible assets, namely, Non-compete fees and Market information comprising of Commercial information, Customer data, Distribution network and Suppliers contract. Apart from the assessee acquiring the Chemical business of Gramos Chemicals India Limited, it transferred its Electroplating business during the year under consideration to Conventya India Private Limited by receiving certain consideration on similar Intangible assets, <

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