Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights January 2015 Year 2015 This

Goodwill - The principle of ejusdem generis would strictly apply ...


Ejusdem Generis Principle Applied to Goodwill Interpretation under Explanation 3(b), Section 32(1) of Income Tax Act.

January 24, 2015

Case Laws     Income Tax     AT

Goodwill - The principle of ejusdem generis would strictly apply while interpreting the said expression - Goodwill is an asset under Explanation 3(b) to section 32(1). - AT

View Source

 


 

You may also like:

  1. 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...

  2. Depreciation on goodwill - business or commercial rights acquired - goodwill is an asset under Explanation 3(b) to section 32(1) - the depreciation allowed even on the...

  3. The Tribunal allowed the assessee's claim for depreciation on goodwill arising from amalgamation u/s 32(1)(ii), following the Supreme Court's decision in Smifs...

  4. Explanation versus bona finde explanation versus proper disclosure - Penalty under section 271(1)(c) - AT

  5. Depreciation on goodwill u/s 32(1) - post demerger - once the assessee proves that goodwill accounted in the books of accounts in a scheme of demerger is only of...

  6. Interest u/s 234B - The term “assessed tax” has been defined in Explanation-1 of Section 234B (1). As per said Explanation-1 “assessed tax” means the tax on the total...

  7. MAT - Adjustments to book profit - Disallowance as per the clause (f) to Explanation-1 of Sec. 115JB of the Act independently - there is no mechanism provided under the...

  8. The Income Tax Appellate Tribunal (ITAT) held that every non-compliance with a notice u/s 142(1) gives a separate cause of action for levying penalty u/s 271(1)(b)....

  9. Reversal of cenvat credit while claiming Exemption from duty - unutilized cenvat credit - Rule 11(3) - the provision of reversal of the credit is provided only in...

  10. Validity of Show cause notice - jurisdiction - Inadmissible transitional credit - Education Cess (E Cess) - Secondary & Higher Education Cess (SHE Cess) - Krishi Kalyan...

  11. The HC dismissed the Revenue's appeal challenging the reopening of assessment under s.147 and disallowance under Explanation 1 to s.37(1). The Tribunal had found that...

  12. Disallowance of Corporate Social Responsibility (CSR) expenses u/s 37(1) - prior to insertion of Explanation – 2 to section 37(1) of the Act, w.e.f., 01.04.2014, as per...

  13. Disallowance of corporate social responsibility expenses - There is no dispute that the expenses in question are not incurred under the aforesaid statutory obligation....

  14. Penalty u/s 271(1)(c) - proof of contravention of provisions provided under explanation 5A to section 271(1)(c) - On reference to the provisions of explanation 5A to...

  15. The ITAT held that penalty u/s 271(1)(c) was not imposable on the assessee. The assessee had voluntarily paid tax on income from sale of shares three years prior to...

 

Quick Updates:Latest Updates