Home Highlights May 2011 Year 2011 This

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1. Claim of depreciation - Bifurcation of slump price into the value of tangible assets and intangible assets - Ultimately after the slump price has been attributed first...

2. Depreciation - Cost of acquisition - depreciation to be allowed on WDV of the predecessor or Revaluation of assets - Conversation of firm to a company - The assessee as...

3. Depreciation on goodwill arising out of amalgamation - The excess of liabilities over net assets was treated as goodwill - goodwill arising on account of amalgamation...

4. Depreciation - Determination of WDV - Cost of Acquisition - waiver or write of loan - the manner of repayment of loan cannot affect the cost of asset. The actual cost...

5. Depreciation on goodwill - Business acquired in amalgamation - The ITAT held that, the excess consideration discharged over the net assets, representing goodwill, is...

6. Depreciation on intangible goods - whether excess amount paid is goodwill or intangible asset - held as goodwill - AT

7. Depreciation on vehicles u/s 32 - @30% or 50% - special rate of depreciation - assessee has claimed depreciation @ 50% i.e. on tankers - Since the assessing officer has...

8. 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...

9. 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...

10. The grant received by the assessee towards plant and machinery and technical civil works is required to be reduced from the cost of assets for computing depreciation u/s...

11. The assessee, after being amalgamated with another company, treated the excess consideration paid over the net assets acquired as goodwill and claimed depreciation at...

12. Deprecation on goodwill - assessee has fully written off goodwill in the books of accounts - section 32(1)mandates that the block of assets should exists to claim...

13. Offshore unit in Dubai treated as proprietary concern, profits taxable in assessee's hands. AO's addition disallowed based on ITAT's consistent rulings favoring assessee....

14. Computation of Capital gains u/s 50 - deduction of notional depreciation on unused assets - When assets not is use no notional depreciation - Section 50 nowhere...

15. Non compete right is an "intangible asset" eligible for depreciation - AT