Depreciation cannot be disallowed merely on ground that IPR was not used for Manufacturing Activities: Delhi HC [Read Judgment]

A division bench of the Delhi High Court has held that the claim for depreciation under Section 32 of the Income Tax Act, 1961 cannot be disallowed merely on the ground that the intellectual property rights were not used by the assessee for the manufacturing activity. The assessee had purchased products from Monsanto India Limited […]

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