In the case of intangible asset being commercial/business rights ...

Intangible Assets Depreciation: No Physical Wear Needed for Tax Claims u/s 32 of Income Tax Act.

May 14, 2012

Case Laws Income Tax AT

In the case of intangible asset being commercial/business rights diminution in value or physical wear and tear is not an essential condition for admissibility for depreciation u/s 32

View Source

← Previous Next →

In the case of intangible asset being commercial/business rights ...

Intangible Assets Depreciation: No Physical Wear Needed for Tax Claims u/s 32 of Income Tax Act.

May 14, 2012

Case Laws Income Tax AT

You may also like:

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...

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...

Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

Depreciation - Cost of acquisition - depreciation to be allowed on WDV of the predecessor or Revaluation of assets - Conversation of firm to a company - The assessee as...

Depreciation on intangible asset - assessee has succeeded in its substantive claim of depreciation on 'License to collect Toll' @ 25% in terms of Section 32(1)(ii) - AT

Depreciation on non-compete fee - treating the same as intangible asset u/s 32(1)(ii) – claim of depreciation allowed - AT

Claim of Depreciation on the brands used by assessee - intangible assets - A careful perusal of clause (b) of Explanation 3 extracted hereinabove shows that the...

Allowability of depreciation intangible rights/assets - company had purchased Imidachlorpid business on slump sale from a company which is not a related concern u/s...

Depreciation - the assessee was eligible for depreciation on the ‘Right to collect Toll’, being an ‘intangible asset’ falling within the purview of section 32(1)(ii) of...

Depreciation on dealership network - he same was in the nature of intangible asset as contemplated u/s 32(1)(ii) of the Act - The assessee was entitled to depreciation...

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...

The Appellate Tribunal held that the right to collect toll in a BOT project constitutes an intangible asset, allowing for depreciation u/s 32(1)(ii) of the Act. Citing a...

Depreciation on right to collect toll tax on road developed by the Assessee - The Tribunal recognized the right to collect toll on roads developed by the appellant as a...

Depreciation on intangible asset being 'Right to collect toll" (HOT Assets) - the claim of the assessee towards depreciation under Sec.32(1)(ii) in respect of its...

Quick Updates: