{"id":6007,"date":"2019-06-28T13:12:04","date_gmt":"2019-06-28T13:12:04","guid":{"rendered":"http:\/\/itatonline.org\/digest\/pcit-v-piramal-glass-ltd-bom-hc-www-itatonline-org-2\/"},"modified":"2019-06-28T13:12:04","modified_gmt":"2019-06-28T13:12:04","slug":"pcit-v-piramal-glass-ltd-bom-hc-www-itatonline-org-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-piramal-glass-ltd-bom-hc-www-itatonline-org-2\/","title":{"rendered":"PCIT v. Piramal Glass Ltd. (Bom.)(HC), www.itatonline.org"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that, rights acquired under a non-compete agreement gives enduring benefit &amp; protects the assessee&#8217;s business against competition. The expression &#8220;or any other business or commercial rights of similar nature&#8221; used in Explanation 3 to sub-section 32(1)(ii) is wide enough to include non-compete rights, hence eligible depreciation. Followed (2018) PCIT v.\u00a0 Ferromatic\u00a0 Milacron India (P) Ltd. (2018) 99 Taxman.com 154 (Guj.)(HC) (ITA No. 556 of 2017, dt. 11.06.2019)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 32 : Depreciation-Intangible asset-Non-compete fee-The expression &#8220;or any other business or commercial rights of similar nature&#8221; used in Explanation 3 to sub-section 32(1)(ii) is wide enough to include non-compete rights\u2013Eligible for depreciation. [S.32(i(ii)]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6007","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1yT","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=6007"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6007\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=6007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=6007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=6007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}