Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2021 Year 2021 This

Disallowance of deprecation on Goodwill - assessee had entered ...

Income Tax

September 8, 2021

Disallowance of deprecation on Goodwill - assessee had entered into an Asset Purchase Agreement (“APA”) to acquire the Global Travel Service Centre (“GTSC”) as a going concern for lump sum consideration ( slump sale basis) - claim of the assessee allowed - AT

View Source

 


 

You may also like:

  1. 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...

  2. 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...

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

  4. 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...

  5. TP Adjustment - Purchase of fixed assets - TPO added the entire amount of fixed assets purchased by the assessee from its AE’s during the year - the fixed assets...

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

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

  8. Capital asset or Business asset - assessee had purchased the land for the purpose of constructing flats on it - Various reasons given by CIT(A) to treat the land as...

  9. Goodwill - capital asset u/s 2(14) - The assessee had therefore garnered substantial experience, reputation and credentials in the business of mining which was a...

  10. 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...

  11. Assets given on lease and returning back to the assessee and again given on lease depreciation is required to be allowed once the assets purchased in the earlier year...

  12. Exemption u/s 11 -proof of Charitable activity u/s 2(15) - assessee entered into franchise agreement - Merely because the assessee entered into franchise agreement with...

  13. Depreciation on goodwill - goodwill as acquired during business acquisition - We find merit in the argument of assessee that the net balance of purchase consideration...

  14. Depreciation on goodwill u/s 32(1) - post demerger - once the assessee proves that goodwill accounted in the books of accounts in a scheme of demerger is only of...

  15. Disallowance of depreciation - no business activity was carried out by the assessee company - The use of individual asset for the purpose of business may be examined...

 

Quick Updates:Latest Updates