Intangible assets- true meaning is required to be considered and not nomenclature given like ‘goodwill’.

Intangible assets- true meaning is required to be considered and not nomenclature given like ‘goodwill’. https://www.taxtmi.com/article/detailed?id=1936 Assets that function as operative tools of trade-business information, records, contracts, employees and know how-that enable the transferee to carry on an acquired business without starting anew constitute intangible assets of the same genus as the statutory list and are eligible for depreciation under section 32(1)(ii) when the consideration is properly attributable to those business or commercial rights. en-us Wed, 31 Oct 2012 10:06:10 +0530 Wed, 31 Oct 2012 10:06:10 +0530 TaxTMI RSS Generator Intangible assets- true meaning is required to be considered and not nomenclature given like ‘goodwill’. https://www.taxtmi.com/article/detailed?id=1936 Assets that function as operative tools of trade-business information, records, contracts, employees and know how-that enable the transferee to carry on an acquired business without starting anew constitute intangible assets of the same genus as the statutory list and are eligible for depreciation under section 32(1)(ii) when the consideration is properly attributable to those business or commercial rights. Articles Income Tax Wed, 31 Oct 2012 10:06:10 +0530 https://www.taxtmi.com/article/detailed?id=1936