Home Highlights August 2012 Year 2012 This

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1. Disallowance of depreciation on goodwill created in the scheme of amalgamation - The ITAT allowed the claim for depreciation on goodwill, aligning with the precedent set...

2. Depreciation on goodwill - Business acquired in amalgamation - The ITAT held that, the excess consideration discharged over the net assets, representing goodwill, is...

3. Denial of depreciation on goodwill arising from scheme of amalgamation - on one hand in the remand proceedings, the AO for the first time raised doubts about the...

4. Offshore unit in Dubai treated as proprietary concern, profits taxable in assessee's hands. AO's addition disallowed based on ITAT's consistent rulings favoring assessee....

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. Disallowance of depreciation claimed on the “Goodwill” - The Tribunal reiterated its earlier decision and held that the assessee was entitled to claim depreciation on...

7. Depreciation on goodwill generated in the scheme of amalgamation - the depreciation on the goodwill originated in the earlier year cannot be disturbed in the year under...

8. Disallowance u/s 14A read with Rule 8D - The assessing officer's reliance on CBDT Circular No. 5 of 2014 to make disallowance u/s 14A is legally untenable and liable to...

9. Disallowance of depreciation on the intangible assets/goodwill acquired in the scheme of amalgamation - AO directed to allow the claim of the assessee for the...

10. Disallowance on account of depreciation on goodwill - Scheme of Amalagamation adopted - the 5th proviso was inserted in order to prevent double claim of the depreciation...

11. Depreciation on goodwill arising out of amalgamation - The excess of liabilities over net assets was treated as goodwill - goodwill arising on account of amalgamation...

12. Depreciation on goodwill – assessee purchased the business lock stock and barrel and has shown the value of the goodwill right from the acquisition onwards -...

13. Depreciation on the intangible assets/goodwill - the assessee was allowed for depreciation in respect of such goodwill in the 1st year of amalgamation i.e. AY 2006-07....

14. The Appellate Tribunal addressed various issues in the case. It directed the AO to delete the disallowance of consequential depreciation on unverified expenses and remit...

15. Revision u/s 263 - goodwill created by virtue of demerger scheme - the Assessing Officer had examined the aspect of the assessee’s claim during the course of acceptance,...