Home Highlights August 2015 Year 2015 This

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1. Nature of non-compete fee capital or not – the commercial right thus acquired by the assessee unambiguously falls in the category of an 'intangible asset' - eligible...

2. Claim of deduction u/s 35DD or alternatively u/s 32 - acquiring commercial rights - the assessee has not paid any consideration to acquire the Palakollu Bank, the...

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

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

5. 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...

6. Disallowance on account of depreciation on the right to collect annuity on toll roads - Entire investment/finance for developing the infrastructure facility was borne by...

7. TDS u/s 194L - TDS on the payment of non-compete fee - non compete fee did not confer any exclusive right to carry-on the primary business activity. The right is...

8. 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...

9. Depreciation disallowed on non-compete fee - an agreement not to compete is purely personal - cannot be considered as the intellectual property right - no depreciation - AT

10. 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...

11. 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...

12. 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...

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

14. 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...

15. Deduction u/s 54/54F - assessee has not acquired the ownership rights in the new property but merely acquired tenancy right which could not be equated with ownership...