Read all Latest Updates on and about Section 32(1)(ii) of the Income Tax Act

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Section 32(1)(ii) of...

ITAT Allows Amortization of Surface Rights u/s 35E, Upholds Mining Lease Expenditure as Business Right [Read Order]

Eeva Mary Sanil

The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) has held that the amortisation of surface rights for mining can be allowed under Section...

No Depreciation allowed on Toll Roads developed on BOT basis as Tangible Assets: ITAT [Read Order]

ITAT Weekly Round Up

Depreciation u/s 32(1)(ii) can't be allowed when No Goodwill has been acquired by a Subsidiary...

Depreciation Allowable on Goodwill u/s 32(1)(ii) of Income Tax Act: ITAT [Read Order]

SUPREME COURT AND HIGH COURTS WEEKLY ROUND-UP

This weekly round-up analytically summarises the key stories related to the High Courts reported at Taxscan.in during the previous week from October 24 to October 29, 2022. COMMISSIONER OF INCOME...

Depreciation allowable for Goodwill on Exclusive Rights such as Patents and Trademarks: Delhi HC [Read Order]

The Delhi High Court, in a recent ruling has held in favour of the assessees, Daikin Shriram Aircon Pvt Ltd and Daikin Air Conditioning India Pvt Ltd that, the assessee is entitled to claim...

Toll Way Rights are Intangible Assets: ITAT allows 25% Depreciation [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the tollway charges, being an intangible asset, are eligible for 25% depreciation under the Income Tax Act, 1961. The Assessing...

Depreciation allowable on Non-Competent Fee and Brand Equity: Madras HC [Read Judgment]

A two-judge bench of the Madras High Court has held that the depreciation under Section 32 of the Income Tax Act, 1961 is allowable on the non- competent fee and brand equity. The bench was hearing...

Depreciation allowable on Genuine Goodwill: ITAT [Read Order]

A Special Bench of the Income Tax Appellate Tribunal ( ITAT ), Delhi has held that the goodwill is an intangible asset which falls under the expression "any other business or commercial rights of...

Non-Competent Fee paid is an Intangible Asset, Depreciation Allowable: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Bengaluru bench, in M/s. Sapa Extrusion India Pvt. Ltd v. DCIT held that the non-compete fee paid is an intangible asset acquired on which Depreciation is...