Treatment of Non-compete Fees
This query is : Resolved
01 March 2010
Sir, is non compete fees considered as an intangible asset & dep. allowed @ 25%? Acc. to Chennai ITAT in Medicorp Technologies India Ltd. its eligible for dep. as an intangible asset. But i have heard that recently an High Court ruling has overruled the aforesaid ITAT ruling... Whats the current position as regards treatment of non compete fees?
01 March 2010
Dear Rahul
The treatment is same. Recently no such decision given by High Court. If you know exact High Court, then it can help to find it out.
The treatment is same. Recently no such decision given by High Court. If you know exact High Court, then it can help to find it out.
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