Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Depreciation on goodwill arising on amalgamation is treated as allowable because such goodwill constitutes an intangible asset and is eligible for depreciation; earlier decisions relied upon by the taxpayer support this principle and the appellate authority accepted the claim, resulting in allowance of depreciation. The legal point emphasises that goodwill recorded on merger qualifies as depreciable intangible property for tax purposes, and reliance on prior accounting recognition and precedent was determinative of the deductibility outcome.
Depreciation on goodwill arising on amalgamation is treated as allowable because such goodwill constitutes an intangible asset and is eligible for depreciation; earlier decisions relied upon by the taxpayer support this principle and the appellate authority accepted the claim, resulting in allowance of depreciation. The legal point emphasises that goodwill recorded on merger qualifies as depreciable intangible property for tax purposes, and reliance on prior accounting recognition and precedent was determinative of the deductibility outcome.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
