SHARP BUSINESS SYSTEM THR. FINANCE DIRECTOR MR. YOSHIHISA MIZUNO vs. COMMISSIONER OF INCOME TAX-III N.D

The appeals are hereby disposed of in terms of

Bench: HON'BLE MR. JUSTICE MANOJ MISRA

depreciation on non- compete fee paid, various High Courts have held in favour of the assessee. A non-compete fee provides an enduring benefit and protects the assessee against competition. The expression ‘or any other business or commercial rights of similar nature’ appearing in Section 32(1)(ii) is wide enough to include non-compete fee. Therefore, Bombay High Court

COMMISSIONER OF INCOME TAX CHENNAI vs. TULSYAN NEC LTD

depreciation; or (iv) the amount of profits derived by an industrial undertaking from the business of generation or generation and distribution of power; or (v) the amount of profits derived by an industrial undertaking located in an industrially backward State or district as referred to in sub-section (4) and sub- section (5) of section 80-IB, for the assessment