![Income from Transfer of Channels being an Asset Outside India not Taxable u/s 9(1)(i) Income Tax Act: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Income-Tax-ITAT-ITAT-Delhi-Asset-transfer-taxation-International-asset-taxation-taxable-channel-transfer-taxscan.jpg "Income from Transfer of Channels being an Asset Outside India not Taxable u/s 9(1)(i) Income Tax Act: ITAT deletes Addition [Read Order]")
Income from Transfer of Channels being an Asset Outside India not Taxable u/s 9(1)(i) Income Tax Act: ITAT deletes Addition [Read Order]
The two member bench of Delhi Income Tax Appellate Tribunal ( ITAT ) comprising Amit Shukla ( Judicial Member ) and Padmavathy S. ( Accountant Member...
![Consideration for Transfer of Goodwill Taxable as Capital Gain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Consideration-Transfer-Goodwill-Taxable-Capital-Gain-ITAT-taxscan.jpg "Consideration for Transfer of Goodwill Taxable as Capital Gain: ITAT [Read Order]")
![Goodwill acquired on Amalgamation is Eligible for Depreciation u/s 32 of Income Tax Act: ITAT deletes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Goodwill-Goodwill-acquired-on-Amalgamation-Amalgamation-Depreciation-Income-Tax-Act-ITAT-deletes-Disallowance-ITAT-Disallowance-Income-Tax-taxscan.jpg "Goodwill acquired on Amalgamation is Eligible for Depreciation u/s 32 of Income Tax Act: ITAT deletes Disallowance [Read Order]")
![Once existence of Goodwill established, Depreciation on such goodwill cannot be questioned: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Goodwill-existence-of-Goodwill-established-Depreciation-ITAT-Depreciation-on-such-goodwill-cannot-be-questioned-taxscan.jpg "Once existence of Goodwill established, Depreciation on such goodwill cannot be questioned: ITAT [Read Order]")
![Profit Margin Forgone by Flipkart India while Selling Goods cannot be treated as “Expenditure in Creating Intangible or Goodwill”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Profit-Flipkart-India-Flipkart-Selling-Goods-Goodwill-ITAT-Income-Tax-Tax-Taxscan-1.jpg "Profit Margin Forgone by Flipkart India while Selling Goods cannot be treated as “Expenditure in Creating Intangible or Goodwill”: ITAT [Read Order]")
Depreciation Allowable on Goodwill which was Included in Determining Face Value of Shares in the Scheme of Amalgamation: ITAT [Read Order]
The Allahabad bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the assessee is eligible for claiming depreciation on goodwill as goodwill has been taken into account while...
![Depreciation Allowable on Goodwill which was Included in Determining Face Value of Shares in the Scheme of Amalgamation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Depreciation-Goodwill-Face-Value-of-Shares-Shares-Scheme-of-Amalgamation-Amalgamation-ITAT-Income-Tax-Taxscan-.jpg "Depreciation Allowable on Goodwill which was Included in Determining Face Value of Shares in the Scheme of Amalgamation: ITAT [Read Order]")
Certain Expenditure is Advantageous in Long run by Creating Goodwill Amounts to Business Expenditure: ITAT Allows Deduction u/s 37(1) to Maruti Suzuki [Read Order]
In a significant case, the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) allowed the deduction under section 37(1) of the Income Tax Act 1961 to Maruti Suzuki and observed that certain...
![Certain Expenditure is Advantageous in Long run by Creating Goodwill Amounts to Business Expenditure: ITAT Allows Deduction u/s 37(1) to Maruti Suzuki [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Expenditure-Goodwill-Business-Expenditure-ITAT-Deduction-Maruti-Suzuki-Taxscan.jpg "Certain Expenditure is Advantageous in Long run by Creating Goodwill Amounts to Business Expenditure: ITAT Allows Deduction u/s 37(1) to Maruti Suzuki [Read Order]")
Once Goodwill is accounted for Books of Account, Goodwill arising upon Amalgamation is eligible for Depreciation u/s 32: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has held that once goodwill is accounted for in the books of account, goodwill arising upon amalgamation is eligible for depreciation...
![Once Goodwill is accounted for Books of Account, Goodwill arising upon Amalgamation is eligible for Depreciation u/s 32: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Books-of-Account-Goodwill-Amalgamation-Depreciation-ITAT-taxscan.jpeg "Once Goodwill is accounted for Books of Account, Goodwill arising upon Amalgamation is eligible for Depreciation u/s 32: ITAT [Read Order]")
No Capital Gains on Transfer of Goodwill on Account of Conversion: ITAT dismisses Revenue's Appeal [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) Chennai bench, in a recent appeal filed before it by the revenue, held that there cannot be said to be any capital gain on the transfer of goodwill on...
![No Capital Gains on Transfer of Goodwill on Account of Conversion: ITAT dismisses Revenues Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Capital-Gains-Transfer-Of-Goodwill-ITAT-taxscan.jpg "No Capital Gains on Transfer of Goodwill on Account of Conversion: ITAT dismisses Revenues Appeal [Read Order]")
![Goodwill Acquired under Slump Sale Agreement eligible for Depreciation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Goodwill-Slump-Sale-Agreement-Depreciation-ITAT-Taxscan.jpeg "Goodwill Acquired under Slump Sale Agreement eligible for Depreciation: ITAT [Read Order]")
Social Welfare Expenses incurred at Workplace and nearby Villages are allowable Deduction u/s 37(1): ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Hyderabad Bench has held that the social welfare expenses incurred at the workplace and nearby villages are allowable deductions u/s 37(1). The appellant,...
![Social Welfare Expenses incurred at Workplace and nearby Villages are allowable Deduction u/s 37(1): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Social-Welfare-Expenses-Workplace-Villages-Deduction-ITAT-Taxscan.jpeg "Social Welfare Expenses incurred at Workplace and nearby Villages are allowable Deduction u/s 37(1): ITAT [Read Order]")
Consideration paid excess than Market Value of Net Tangible Assets is treated as Goodwill: ITAT allows depreciation [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that consideration paid in excess than market value of net tangible assets is treated as goodwill. The assessee Gea Process...
![Consideration paid excess than Market Value of Net Tangible Assets is treated as Goodwill: ITAT allows depreciation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/market-value-tangible-assets-goodwill-ITAT-depreciation-Taxscan.jpg "Consideration paid excess than Market Value of Net Tangible Assets is treated as Goodwill: ITAT allows depreciation [Read Order]")