Home Highlights August 2015 Year 2015 This

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1. Nature of non-compete fee capital or not – the commercial right thus acquired by the assessee unambiguously falls in the category of an 'intangible asset' - eligible...

2. 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...

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

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

5. 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...

6. Disallowance on account of depreciation on the right to collect annuity on toll roads - Entire investment/finance for developing the infrastructure facility was borne by...

7. 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...

8. 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...

9. Depreciation disallowed on non-compete fee - an agreement not to compete is purely personal - cannot be considered as the intellectual property right - no depreciation - AT

10. Depreciation on right to collect toll tax on road developed by the Assessee - The Tribunal recognized the right to collect toll on roads developed by the appellant as a...

11. 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...

12. 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...

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

14. 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...

15. Deduction u/s 54/54F - assessee has not acquired the ownership rights in the new property but merely acquired tenancy right which could not be equated with ownership...