2015 (4) TMI 1321

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..... sets like trademark, patents and other rights are similar in nature are intangible assets, which in terms of section 32(1) (ii) of the Act would be a capital assets entitled to depreciation. In view of the order of the jurisdictional High Court, we are inclined to confirm the order of the Commissioner of Income Tax (Appeals). - Decided against revenue. - I.T.A. Nos.467, 468 & 469/Mds/2015 - - - .....

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..... eved, the assessee preferred an appeal before the Commissioner of Income Tax (Appeals). On appeal, the Commissioner of Income Tax (Appeals) relied on the order of the Jurisdictional High Court in the case of Pentasoft Technologies Ltd (2014) (41 taxmann.com 120) and allowed the appeal of the assessee. Against this, the Revenue is in appeal before us. 3. We have heard both the parties and peruse .....

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