Home Highlights May 2012 Year 2012 This

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

2. 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...

3. Claim of Depreciation on the brands used by assessee - intangible assets - A careful perusal of clause (b) of Explanation 3 extracted hereinabove shows that the...

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

5. 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...

6. 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...

7. 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...

8. 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...

9. 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...

10. 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...

11. Depreciation on intangible assets being “business and commercial rights” - payment made by the assessee in the form of compensation for acquiring mining rights in the...

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

13. Depreciation on intangibles - sale as slump sale - All these intangible assets transferred to the assessee have a commercial value - assessee is eligible to claim...

14. Approval of Resolution plan - assigning nil value to Intangible assets is an error on the face of the two Valuation Reports and hence a fresh valuer needs to be...

15. 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...