Home Highlights May 2012 Year 2012 This

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

2. Depreciation on intangible assets - assessee was entitled to claim depreciation on 'business information' under the category of 'other identifiable intangibles [goodwill].... - AT

3. 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

4. Goodwill - Excess payment over and above the cost of tangible assets – only 50% of the amount is eligible for Depreciation as right to carry trade

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

6. Denial of depreciation on goodwill and intangibles - the excess consideration paid over and net asset value of the business acquired shall be goodwill being ‘any other...

7. Depreciation on goodwill - business or commercial rights acquired - goodwill is an asset under Explanation 3(b) to section 32(1) - the depreciation allowed even on the...

8. Depreciation on license fee paid for 20 years - intangible asset - deferred revenue expenditure - benefit of depreciation on the registration fee of paid to Indian...

9. Rate of depreciation on intangible asset of licence for running container trains - commercial rights for 20 years - such rights would amount to capital asset - claim of...

10. Depreciation on Goodwill - depreciation on Customer Relationship (CR) & Vendor Relationship (VR) considering them to fall under Any other business or commercial rights...