Deprecation on goodwill - assessee has fully written off ...

Goodwill Not Eligible for Depreciation u/s 32(1) Due to Non-Existence in Assessee's Asset Block.

August 31, 2019

Case Laws Income Tax AT

Deprecation on goodwill - assessee has fully written off goodwill in the books of accounts - section 32(1)mandates that the block of assets should exists to claim depreciation - Since, goodwill is not treated as an asset in its books of accounts, the question of allowing depreciation on such non existing asset does not arise

View Source

← Previous Next →

Deprecation on goodwill - assessee has fully written off ...

Goodwill Not Eligible for Depreciation u/s 32(1) Due to Non-Existence in Assessee's Asset Block.

August 31, 2019

Case Laws Income Tax AT

You may also like:

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...

Depreciation on glow sign boards and oxygen gas cylinders was rejected by the Assessing Officer, holding that the transaction on the last day of the accounting year...

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...

Specified intangible assets acquired under slump sale agreement were in the nature of “business or commercial rights of similar nature” specified in Section 32(1)(ii)...

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...

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...

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...

Depreciation - the assessee was eligible for depreciation on the ‘Right to collect Toll’, being an ‘intangible asset’ falling within the purview of section 32(1)(ii) of...

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...

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...

Revision u/s 263 - depreciation claimed on goodwill arose out of amalgamation - PCIT has assumed jurisdiction u/s. 263 of the Act on the sole basis of application of 5th...

Depreciation on goodwill - as the function of goodwill acquired by the assessee also is to maximizes the profits of the company & as the assessee's goodwill being a...

Depreciation on toll way rights u/s 32(1)(ii) @ 25% - expenditure incurred by the assessee for construction of road under BOT contract by the Government of India has...

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

Depreciation on Goodwill - appellant had acquired the business undertaking on a going concern basis - goodwill acquired upon acquiring the business which is nothing but...

Quick Updates: