Dcit, Chennai vs Compass Group (India) Support Services ... on 12 June, 2019
The brands are covered within the definition of an intangible asset under
section 32(1)(ii) of the Act and accordingly, CGIHS was entitled to claim
depreciation on consideration paid towards acquisition of such brands acquired
from Indus. The Company places reliance on the ruling of the Mumbai
Tribunal in the case KEC International Ltd vs. ACIT (2010) (41 SOT 43)
wherein was held that the brand name is an intellectual property right similar to
trade mark, eligible to be depreciated under section 32 of the Act.