Depreciation Claimed on Non-Compete Fees Is Unsustainable, But Goodwill Arising from Slump Sale Qualifies for Depreciation
Depreciation Claimed on Non-Compete Fees Is Unsustainable, But Goodwill Arising from Slump Sale Qualifies for Depreciation Issue Whether depreciation can be claimed under Section 32 on non-compete fees recognized during a slump sale, or if it must be treated strictly as revenue expenditure under Section 37(1). Whether sixth proviso to Section 32(1), Explanation 7 to… Read More »