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2016 (6) TMI 1244 - AT - Income TaxDisallowing depreciation on goodwill - whether ‘Type Test Certification Fees’ and ‘Customer Approval Fees’ claimed by the assessee are eligible for depreciation u/s 32 - Held that:- Ratio of the judgment cited as Areva T and D India Ltd. (2012 (4) TMI 79 - DELHI HIGH COURT) squarely applies to the facts and circumstances of the case and we are of the considered view that ‘Type Test Certification Fees’ and ‘Customer Approval Fees’ are certainly intangible assets being business claims, business information, contracts and know-how etc., which were intangible and without which the assessee would have no business to start with. Thus, rights of the similar nature specified in section 32(1)(ii) of the Act are eligible for depreciation. - Decided in favour of assessee.
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