Dismissing the appeal of the Revenue the Court held that Goodwill, Patent, Trade Mark and Intellectual Property Rights are intangible assets and entitled to depreciation. Trademarks need not be registered in assessee’s name. (AY.2001-02, 2002-03)
CIT v. Daikin Shri Ram Aircon Pvt. Ltd. (2023)451 ITR 133 (Delhi)(HC) CIT v. Daikin Air Conditioning India Pvt. Ltd. (2023)451 ITR 133 (Delhi)(HC)
S. 32 : Depreciation-Goodwill, Patent, Trade Mark and Intellectual Property Rights-Intangible assets-Entitled to depreciation-Trademark need not be registered in assessee’s name. [S. 32(1(ii)]