Taxpayer's Mining Rights Payment Classified as Intangible Assets, Eligible for Depreciation Under Income Tax Rules.

Taxpayer's Mining Rights Payment Classified as Intangible Assets, Eligible for Depreciation Under Income Tax Rules. https://www.taxtmi.com/highlights?id=39779 Depreciation on intangible assets being “business and commercial rights” - payment made by the assessee in the form of compensation for acquiring mining rights in the land is intangible assets and hence depreciation is allowed. en-us Thu, 07 Jun 2018 08:49:18 +0530 Thu, 07 Jun 2018 08:49:18 +0530 TaxTMI RSS Generator Taxpayer's Mining Rights Payment Classified as Intangible Assets, Eligible for Depreciation Under Income Tax Rules. https://www.taxtmi.com/highlights?id=39779 Depreciation on intangible assets being “business and commercial rights” - payment made by the assessee in the form of compensation for acquiring mining rights in the land is intangible assets and hence depreciation is allowed. Highlights Income Tax Thu, 07 Jun 2018 08:49:18 +0530 https://www.taxtmi.com/highlights?id=39779