Deprecation on goodwill - assessee has fully written off ...

Income Tax

August 31, 2019

Deprecation on goodwill - assessee has fully written off goodwill in the books of accounts - section 32(1)mandates that the block of assets should exists to claim depreciation - Since, goodwill is not treated as an asset in its books of accounts, the question of allowing depreciation on such non existing asset does not arise

View Source

← Previous Next →

Deprecation on goodwill - assessee has fully written off ...

Income Tax

August 31, 2019

You may also like:

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...

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...

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

Depreciation on goodwill u/s 32(1) - post demerger - once the assessee proves that goodwill accounted in the books of accounts in a scheme of demerger is only of...

Disallowance of bad debts u/s 36(1) - The non-realisation of debt can result in bad debt written off if the same is written off in the books. Since it is not the case...

Depreciation on the let out property - deprecation u/s 32 of the 1961 Act under these circumstances can not be allowed on these two properties merely on the grounds that...

Disallowance of depreciation on plant and machinery installed at customer's premises - the installation of the diagnostic machines owned by the assessee and forming part...

Depreciation on Goodwill - appellant had acquired the business undertaking on a going concern basis - goodwill acquired upon acquiring the business which is nothing but...

Benefit u/s 32(2)(iii) - Carried forward unabsorbed depreciation cannot be set off with short-term capital gain arising from sale of depreciaible assets - HC

Disallowance of depreciation on goodwill created in the scheme of amalgamation - The ITAT allowed the claim for depreciation on goodwill, aligning with the precedent set...

Quick Updates: