Relief to Abbott Healthcare: ITAT allows Depreciation u/s 32 on paid Non-Compete Fees [Read Order]

Abbott Healthcare - ITAT - depreciation - Non-compete Fees - taxscan

The Income Tax Appellate Tribunal (ITAT), Mumbai allowed depreciation under Section 32 of the Income Tax Act on already paid non-compete fees thereby granting relief to Abbott Healthcare Private Limited. The assessee, Abbott Healthcare Private Limitedis in the second round before the Tribunal. This appeal of the assessee along with a Cross-Appeal by the Revenue…

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