Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Treat excess slump-sale consideration over identifiable tangible asset values as goodwill or commercial rights and allow depreciation thereon under section 32(1)(ii); adopt the Departmental Valuation Officer's fair market values for land, building and other tangible assets when computing depreciation and direct the Assessing Officer to recompute accordingly. Reject attributing the entire balance to land or limiting depreciation to transferor WDV where valuation shows a balancing figure. Verify claims for depreciation on landscaping and internal roads with opportunity to the taxpayer before adjudication.
Treat excess slump-sale consideration over identifiable tangible asset values as goodwill or commercial rights and allow depreciation thereon under section 32(1)(ii); adopt the Departmental Valuation Officer's fair market values for land, building and other tangible assets when computing depreciation and direct the Assessing Officer to recompute accordingly. Reject attributing the entire balance to land or limiting depreciation to transferor WDV where valuation shows a balancing figure. Verify claims for depreciation on landscaping and internal roads with opportunity to the taxpayer before adjudication.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
