PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
ITAT held that gains from sale of trademarks "Coldarin" and "Raricap" acquired prior to 01/04/1998 qualify as Long Term Capital Gains, not Short Term Capital Gains. Section 50 was inapplicable as intangible assets were not part of depreciable block assets before Finance Act 1998 amendment. Since the trademarks were acquired in FY 1992-93 and 1997-98 when no statutory provision mandated inclusion of intangibles in block assets, depreciation provisions under Section 50 cannot apply. ITAT overturned lower authorities' treatment of gains as STCG, ruling in appellant's favor to classify proceeds as LTCG for tax purposes.
ITAT held that gains from sale of trademarks "Coldarin" and "Raricap" acquired prior to 01/04/1998 qualify as Long Term Capital Gains, not Short Term Capital Gains. Section 50 was inapplicable as intangible assets were not part of depreciable block assets before Finance Act 1998 amendment. Since the trademarks were acquired in FY 1992-93 and 1997-98 when no statutory provision mandated inclusion of intangibles in block assets, depreciation provisions under Section 50 cannot apply. ITAT overturned lower authorities' treatment of gains as STCG, ruling in appellant's favor to classify proceeds as LTCG for tax purposes.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
