Intangible assets from slump sale qualify for depreciation as "business or commercial rights" u/s 32(1)(ii) Income Tax Act.

Depreciation on intangible assets being “business and commercial rights” - pecified intangible assets acquired under slump sale agreement were in the nature of “business or commercial rights of similar nature” specified in Section 32(1)(ii) and were accordingly eligible for depreciation. - HC .....

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