Home Highlights May 2012 Year 2012 This

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1. Denial of depreciation on goodwill and intangibles - the excess consideration paid over and net asset value of the business acquired shall be goodwill being ‘any other...

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

3. Depreciation on intangible assets - assessee was entitled to claim depreciation on 'business information' under the category of 'other identifiable intangibles [goodwill].... - AT

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

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

6. Claim of depreciation @ 25% - Actual cost of the copy rights and trademarks - the depreciation is to be allowed on goodwill also as any other intangible asset - AT

7. 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...

8. 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....

9. 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...

10. 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...

11. 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...

12. 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...

13. Depreciation on license fee paid for 20 years - intangible asset - deferred revenue expenditure - benefit of depreciation on the registration fee of paid to Indian...

14. 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...

15. Refund claim towards excess custom duty paid - same amount paid twice through oversight and bonafide mistake - The petitioner is entitled to get refund along with...