A two-judge bench of the Madras High Court has held that the depreciation under Section 32 of the Income Tax Act, 1961 is allowable on the non- competent fee and brand equity. The bench was hearing an appeal by the Revenue against M/s.Radaan Media Works (India) Ltd wherein the Assessing Officer denied the depreciation benefit […]
The post Depreciation allowable on Non-Competent Fee and Brand Equity: Madras HC [Read Judgment] appeared first on Taxscan | Simplifying Tax Laws.
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