Home Highlights July 2013 Year 2013 This

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1. Deprecation u/s 32 on goodwill - Depreciation could not be denied to the Taxpayer merely for the reason that the assets were classified as ‘goodwill’ in the books of...

2. Depreciation on intangible asset representing acquisition of business contract - assessee has also acquired contractual rights which, no doubt, is a valuable commercial...

3. Depreciation on intangible assets - a reading the words 'any other business or commercial rights of similar nature' in clause (b) of Explanation 3 indicates that...

4. Claim of deduction u/s 35DD or alternatively u/s 32 - acquiring commercial rights - the assessee has not paid any consideration to acquire the Palakollu Bank, the...

5. Depreciation on Goodwill - depreciation on Customer Relationship (CR) & Vendor Relationship (VR) considering them to fall under Any other business or commercial rights...

6. Denial of depreciation on goodwill and intangibles - the excess consideration paid over and net asset value of the business acquired shall be goodwill being ‘any other...

7. Depreciation on intangible assets being “business and commercial rights” - pecified intangible assets acquired under slump sale agreement were in the nature of “business...

8. Depreciation on Goodwill - appellant had acquired the business undertaking on a going concern basis - goodwill acquired upon acquiring the business which is nothing but...

9. Depreciation on goodwill – assessee purchased the business lock stock and barrel and has shown the value of the goodwill right from the acquisition onwards -...

10. Depreciation on the non-compete rights - the commercial right thus acquired by the assessee unambiguously falls in the category of an 'intangible asset' - AT

11. Depreciation on goodwill - as the function of goodwill acquired by the assessee also is to maximizes the profits of the company & as the assessee's goodwill being a...

12. Depreciation on intangible assets being “business and commercial rights” - payment made by the assessee in the form of compensation for acquiring mining rights in the...

13. Rate of depreciation on intangible asset of licence for running container trains - commercial rights for 20 years - such rights would amount to capital asset - claim of...

14. Disallowance of Depreciation on Goodwill – The specified intangible assets acquired under slump sale agreement were in the nature of “business or commercial rights of...

15. Specified 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)...