Home Highlights July 2012 Year 2012 This

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1. 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...

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

3. 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...

4. Disallowance of depreciation claimed on the “Goodwill” - The Tribunal reiterated its earlier decision and held that the assessee was entitled to claim depreciation on...

5. 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...

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

7. Disallowance of depreciation on goodwill - scheme of amalgamation - the very purchase of goodwill is not proved by the assessee - Disallowance of depreciation is thus...

8. Depreciation on goodwill - amalgamation - acquisition of the deferred sales tax liabilities - MOU agreed to purchase the Assets consisting the Immovable properties - On...

9. Revision u/s 263 by CIT - depreciation on goodwill - the assessee has rightly claimed depreciation on goodwill arise out of amalgamation, because, 5th proviso to...

10. 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...

11. 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...

12. Depreciation - Disallowance of amount released from reserves account under normal computation of income - The net result of the accounting entries passed in the books of...

13. 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....

14. Depreciation on goodwill - zero asset shown in the books - The contention of the Ld. DR that it has zero asset shown in the books of CRAZY NETWORK appears to be...

15. Disallowance on account of depreciation on goodwill - Scheme of Amalagamation adopted - the 5th proviso was inserted in order to prevent double claim of the depreciation...