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Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

Non-Compete Rights Classified as Depreciable Intangible Assets, Impacting Business Tax Obligations and Income Calculations.


Non-Compete Rights Classified as Depreciable Intangible Assets, Impacting Business Tax Obligations and Income Calculations.

April 16, 2016

Case Laws     Income Tax     AT

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

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  1. 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...

  2. 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...

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

  5. Allowability of depreciation intangible rights/assets - company had purchased Imidachlorpid business on slump sale from a company which is not a related concern u/s...

  6. 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...

  7. 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...

  8. 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...

  9. Disallowance of the claim of depreciation on intangible asset - amalgamation scheme initiated - when there is no transfer of the asset as well as there is no valuation...

  10. ITAT held that gains from sale of trademarks "Coldarin" and "Raricap" acquired prior to 01/04/1998 qualify as Long Term Capital Gains, not Short Term Capital Gains....

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

  12. 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...

  13. The Appellate Tribunal held that the right to collect toll in a BOT project constitutes an intangible asset, allowing for depreciation u/s 32(1)(ii) of the Act. Citing a...

  14. Depreciation on the asset ‘Right to Collect Toll’ - he benefit of depreciation @25% on the intangible asset designated by the assessee as “Right to Collect Toll” allowed.

  15. 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...

 

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