disallowed
depreciation claim on non-compete fee of Rs.83.75 cr by
observing that, the payment of non-compete fee was a
"Sham ... that, the appellant company had acquired non-compete
rights which is not an asset and further, the non-compete
fee acquired by the appellant company
disallowed
depreciation claim on non-compete fee of Rs.83.75 cr by
observing that, the payment of non-compete fee was a
"Sham ... that, the appellant company had acquired non-compete
rights which is not an asset and further, the non-compete
fee acquired by the appellant company
disallowed
depreciation claim on non-compete fee of Rs.83.75 cr by
observing that, the payment of non-compete fee was a
"Sham ... that, the appellant company had acquired non-compete
rights which is not an asset and further, the non-compete
fee acquired by the appellant company
disallowed
depreciation claim on non-compete fee of Rs.83.75 cr by
observing that, the payment of non-compete fee was a
"Sham ... that, the appellant company had acquired non-compete
rights which is not an asset and further, the non-compete
fee acquired by the appellant company
Company has paid non-compete fees to AGS Hotels &
Resorts Private Limited by executing a non-compete
agreement dated 22.08.2008 for a consideration ... Therefore, a non-compete right obtained through a non-
compete agreement is an intangible asset eligible for
depreciation under Section
depreciation. The Assessing
Officer had disallowed depreciation on non-compete fee on the
ground that non-compete fee paid by the assessee did not give ... Chny/2017
years. Therefore non-compete fee represents a qualifying
intangible asset on which depreciation is admissible. Non-
compete fee conferred a right
UEPL entered into a non-compete agreement with UKT and UKM
on 30/01/2008 for non-competing in the business directly ... depreciation on
non-compete fee or not, ultimately held that non-compete fee
cannot be treated as intangible assets qualified for depreciation.
The Assessee
towards disallowance of depreciation on non-compete fees
without appreciating the fact that non-compete fee paid by the assessee in terms ... disallowed depreciation
claimed on non-compete fee on the ground that non-compete fee paid by the assessee
neither gives rise to any kind
same business later, non-compete fee was paid. Such non-compete fee
was considered as an intangible asset by UEPL and depreciation was
claimed ... depreciation on non-compete fee stating that non-compete fee
cannot be considered as an intangible asset.
The Assessing Officer disallowed depreciation on non-compete
claim of
depreciation on non-compete fee by treating it as an intangible asset is
totally irrelevant as non-compete fee cannot be equated with ... towards non-
compete fee. It is also a fact that the assessee had allocated the
payment made towards non-compete fee to various fixed assets
