Home Highlights September 2014 Year 2014 This

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

2. Non-compete fees paid - non-compete fee paid by the assessee did not create any capital assets, the same was revenue in nature- AT

3. TDS u/s 194L - TDS on the payment of non-compete fee - non compete fee did not confer any exclusive right to carry-on the primary business activity. The right is...

4. Disallowance of depreciation u/s 32 - intangible assets - amount paid for non compete fees - non compete fee is not an eligible intangible asset as the words “similar...

5. 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...

6. TP - Non compete fees - Estimation of income - assessee had signed non compete agreement - no justification for non payment of non compete fees to the assessee -...

7. Claim of depreciation - Payment of non-compete fee - Whether non-compete fees is an intangible asset of any other business or commercial rights of similar nature as per...

8. Disallowance of depreciation on non-compete fees - Assessee stated that the non-compete payment being in the nature of payment and commercial right as referred to in...

9. Nature of payment of compensation in lieu of the non-compete agreement after retirement - whether non taxable in the hands of the assessee being a capital receipt -...

10. Taxability of capital gain arising from sale of property - The assessee had acquired a right to get a particular flat from the builder and that right of the assessee...

11. Non compete fee receipt - long term capital gain or business income - the amount of ₹ 39,35,00,000/- received by the assessee company as non compete fee, is a...

12. Nature of receipt - non- compete fee - capital or revenue receipt - Clearly, for the period in which the non-compete agreement was to operate, which in this case was 10...

13. Non-compete fees - payment received as non-competition fee under a negative covenant is a capital receipt and not taxable under the Act. - HC

14. Disallowance of Non-Compete Compensation - Amount paid as non-compete fee being capital out lay, can not be allowed as revenue expenditure - AT

15. Depreciation on the capitalised sum of non - compete fees - as non compete fee is not an asset, depreciation cannot be allowed - AT