Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Concessionaire rights acquired under a DBFOT highway agreement were treated as depreciable intangible assets. The Tribunal held that the assessee had, at its own cost, obtained an exclusive licence and authority to operate and maintain the project highway and receive annuity during the concession period, and that this right fell within section 32(1)(ii) as a valuable business or commercial right. Depreciation was allowed on the opening written down value of the intangible asset for the years in appeal. The alternative claim for amortisation was rendered infructuous, and the remaining grounds were treated as academic or left open.
Concessionaire rights acquired under a DBFOT highway agreement were treated as depreciable intangible assets. The Tribunal held that the assessee had, at its own cost, obtained an exclusive licence and authority to operate and maintain the project highway and receive annuity during the concession period, and that this right fell within section 32(1)(ii) as a valuable business or commercial right. Depreciation was allowed on the opening written down value of the intangible asset for the years in appeal. The alternative claim for amortisation was rendered infructuous, and the remaining grounds were treated as academic or left open.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
