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Income Tax - Highlights / Catch Notes

Home Highlights August 2018 Year 2018 This

Disallowance of depreciation on non-compete territory rights - ...

Income Tax

August 11, 2018

Disallowance of depreciation on non-compete territory rights - The department sought to disallow the deprecation to the assessee in all these years even without adjudicating the issue on merit at any stage. It is not permissible.

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  1. Disallowance of depreciation of tenancy rights - the tenancy right is not an intangible asset eligible for deprecation u/s 32.

  2. Depreciation disallowed on non-compete fee - an agreement not to compete is purely personal - cannot be considered as the intellectual property right - no depreciation - AT

  3. Disallowance of non-compete fees - Capital or revenue expenditure - expenditure has to be disallowed as capital expenditure - however depreciation to be allowed - AT

  4. Allowabiltry of depreciation - not claimed deprecation in either its original return or in its revised return - Tribunal allowed the depreciation - no substantial...

  5. Non compete right is an "intangible asset" eligible for depreciation - AT

  6. Point of Taxation (Amendment) Rules, 2017 - Determination of point of taxation in case of services provided by a person located in non-taxable territory to a person in...

  7. Disallowance u/s 40(a)(i) - Payments made for technical know-how which had been capitalized, no TDS has been deducted thereon - no reason to disallow depreciation on...

  8. Depreciation on the non-compete rights - the commercial right thus acquired by the assessee unambiguously falls in the category of an 'intangible asset' - AT

  9. Withdrawal of exemption from service tax on cross border B2C OIDAR services provided online/electronically from a non-taxable territory to consumers in taxable territory in India

  10. Depreciation allowance - officers of the department must not take advantage of the ignorance of an assessee as to his rights - officers should freely advise them when...

 

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