Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
Depreciation on goodwill arising from an amalgamation is not allowable where the goodwill was not capitalised or brought into the relevant block of intangible assets, because depreciation operates through the block-of-assets mechanism and requires recognition of actual cost and opening written down value; consequence: the goodwill claim is rejected. Separately, denial of intra-year set-off of losses of a SEZ unit was remitted for factual verification since explanation permitting depreciation despite non-claim applies and the assessing officer must examine existence of depreciable assets, business use and WDV; consequence: the Dahej unit claim is sent back for verification and recomputation after hearing the assessee.
Depreciation on goodwill arising from an amalgamation is not allowable where the goodwill was not capitalised or brought into the relevant block of intangible assets, because depreciation operates through the block-of-assets mechanism and requires recognition of actual cost and opening written down value; consequence: the goodwill claim is rejected. Separately, denial of intra-year set-off of losses of a SEZ unit was remitted for factual verification since explanation permitting depreciation despite non-claim applies and the assessing officer must examine existence of depreciable assets, business use and WDV; consequence: the Dahej unit claim is sent back for verification and recomputation after hearing the assessee.
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