Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Goodwill depreciation rules govern written down value and short-term capital gains under the intangible asset block. Computation under Rule 8AC governs the written down value of the intangible asset block and any short-term capital gains where depreciation has been claimed on goodwill. Where the depreciation adjustment exceeds the aggregate of the opening written down value and the cost of other intangible assets acquired during the relevant year, the excess is deemed to be short-term capital gains. If goodwill was the only asset and the block ceases to exist because no further asset is acquired, no capital gains or loss arises.
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 depreciation rules govern written down value and short-term capital gains under the intangible asset block.
Computation under Rule 8AC governs the written down value of the intangible asset block and any short-term capital gains where depreciation has been claimed on goodwill. Where the depreciation adjustment exceeds the aggregate of the opening written down value and the cost of other intangible assets acquired during the relevant year, the excess is deemed to be short-term capital gains. If goodwill was the only asset and the block ceases to exist because no further asset is acquired, no capital gains or loss arises.
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