The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the depreciation is allowable on intangible assets such as marketing information comprising of Commercial information, Customer data, Distribution network and Suppliers contract

In a major setback to the Fortis Hospitals, the Delhi High Court dismissed the appeal against Income Tax Appellate Tribunal (ITAT) order disallowing the depreciation on the non-compete fee. The appellant, Fortis Hospitals challenged the

In a recent ruling, the Income Tax Appellate Tribunal (ITAT), Mumbai bench has granted relief to the Lakme Lever Private Limited. The Commissioner of Income Tax, while exercising his revisionary jurisdiction under the Income Tax

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that payment received as Non compete fees are taxable under the head of income from the business & Profession section. Dandvati

Delhi bench of the Income Tax Appellate Tribunal (ITAT) recently held that the non-compete fee paid for acquisition of going concern is not eligible for depreciation under section 32 of the Income Tax Act, 1961.

Pune bench of the Income Tax Appellate Tribunal (ITAT) recently held that slump price paid to acquire a business has to be bifurcated between both tangible and intangible assets for the purpose of allowing depreciation

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that a non-compete fee related to a profession is made taxable only with effect from AY 2017–18 and

Delhi bench of Income Tax Appellate Tribunal (ITAT) recently disallowed depreciation claim under section 32 of the Income Tax Act, 1961 on intangible asset on non-compete fees paid. Assessee in the recent case is a

The Delhi High Court in the case of PR. Commissioner of Income Tax-11 vs. Satya Sheel Khosla has held that the amount received as non-competent fee towards loss of the source of would be treated

The ITAT, Delhi bench has held that the depreciation under section 32 of the Income Tax Act, 1961 is not allowable on non-compete fee. The assessee, a resident-companyits return of income on 29.11.2014 declaring loss

The New Delhi Bench of the Authority for Advance Rulings (AAR) in the application filed by the applicant HM Publishers Holdings Limited held that the receipts arising out of a negative covenant not to carry

The division bench of Gujarat High Court held that, Survey expenses of a Company is deductible from Income Tax under the provisions of the Income Tax Act. While completing Assessment against the assessee, the Assessing

A division bench of Delhi High Court held that, Payment of compensation in lieu of the non-compete agreement by the Respondent would amount to capital receipt on which no income tax could be leviable under

The Madras High Court, in a recent case, held that the fee paid by a company for Non-Compete would be considered as a capital receipt, not a revenue receipt for the purpose of Income Tax

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) in the case of ITO v Prabhakar Raghavendra Rao held that non-compete fee money received independently by the assessee pursuant to an independent agreement, which was