Where assessee has claimed substantial depreciation on intangible assets which were acquired in the relevant assessment year by virtue of business transfer agreement, claim was allowed on account of the valuation report submitted by the assessee. (AY. 2012-13, 2013-14, 2015-16)
Dy. CIT v. Infrasoft Technologies Ltd. (2020) 195 DTR 333 / 208 TTJ 1068 (Delhi)(Trib.)
S. 32 : Depreciation-Intangible Assets-Acquired from business transfer agreement-Depreciation allowable on the basis of valuation report. [S. 32(1)(ii)]