Home Highlights July 2013 Year 2013 This

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1. Software development expenditure which was application software was revenue in nature - deduction allowed u/s 37.

2. Disallowance of excess depreciation on computer software - assessee had purchased software being operating system for Windows and claimed depreciation as per Rule 5 of...

3. Eligibility for depreciation in respect of the intangible asset by way of trademark allowed - AT

4. Rectification of register where trademark 'BLENDERS PRIDE' was registered by inadvertence/error - time for filing notice of opposition within the three month - The...

5. Reassessment u/s 147 - In ‘Note’ in Annual Reports on Software development projects and the various stages of software development placed by the assessee before the AO...

6. Depreciation on software - 25% or 60% - assessee has purchased specific software which was not supplied along with the computer - AO is correct in treating the computer...

7. Abandonment of trademark application - Failure to respond to objection raised over trademark registration application - the Act does not contain a prohibition against...

8. Depreciation disallowed on the reason that 4 trademarks have been included in the block of assets are not put to use - in relation to block of assets, it is not possible...

9. Depreciation @ 10% on landscaping & development charges which is capitalized in nature of land allowed - AT

10. CIRP - Infringement of seven trademarks - assignment of trademark in favor of petitioner - Under Chapter V of the Trade Marks Act, 1999 the right of assignment and...

11. Depreciation on computer software - Because software contained in a disk is tangible property by itself. Since the taxpayer’s ownership of limited right over the...

12. Non consideration of objections to the draft assessment order u/s 144 - since the objections were well within time, the action of the AO in proceeding with the final...

13. Rate of depreciation on software - @25% or @60% - computer included computer software. Note 7 of the Appendix, defines computer software as any computer programme...

14. 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

15. Excess depreciation - cost of development of infrastructure facility of roads/highways - Action of the Ld. AO in applying the circular retrospectively is not in order....