Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
Reverse charge and assignment of royalty collection: exemption for excess royalty collectors subject to reconciliation; leaseholders remain liable und...
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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