Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
Depreciation on a trademark forming part of a post-amalgamation...
Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt income.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Depreciation on a trademark forming part of a post-amalgamation block of intangible assets was held allowable on the opening written down value, because the claim had been accepted in scrutiny in the first year, no change in facts was shown, and the Revenue could not disturb the settled position by questioning the asset's existence later. For book profit under section 115JB, the adjustment linked to section 14A was deleted because clause (f) of Explanation 1 must be computed independently and not by importing Rule 8D. Section 14A disallowance was also held inapplicable where no exempt income was earned, and the Finance Act, 2022 amendment was treated as prospective from assessment year 2022-23.
Depreciation on a trademark forming part of a post-amalgamation block of intangible assets was held allowable on the opening written down value, because the claim had been accepted in scrutiny in the first year, no change in facts was shown, and the Revenue could not disturb the settled position by questioning the asset's existence later. For book profit under section 115JB, the adjustment linked to section 14A was deleted because clause (f) of Explanation 1 must be computed independently and not by importing Rule 8D. Section 14A disallowance was also held inapplicable where no exempt income was earned, and the Finance Act, 2022 amendment was treated as prospective from assessment year 2022-23.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
