Goodwill in block of assets: prescribed method to determine written down value and short-term capital gain. Amendment to section 50 adds a proviso that where goodwill forms part of a block of assets for the assessment year beginning 1 April 2020 and depreciation has been obtained, the written down value of that block and any short-term capital gain shall be determined in the manner prescribed, thereby prescribing specific computational rules for depreciable assets including goodwill.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Goodwill in block of assets: prescribed method to determine written down value and short-term capital gain.
Amendment to section 50 adds a proviso that where goodwill forms part of a block of assets for the assessment year beginning 1 April 2020 and depreciation has been obtained, the written down value of that block and any short-term capital gain shall be determined in the manner prescribed, thereby prescribing specific computational rules for depreciable assets including goodwill.
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