https://www.taxtmi.com/caselaws?id=290288 Depreciation was allowed on non-compete fee and goodwill as intangible assets, since both were treated as business or commercial rights within section 32(1)(ii). The credit to general reserve on amalgamation was held not taxable under section 28(1)(iv) because the transaction was not business income or a business-related perquisite. Provisions relating to the transferred non-T&D business were disallowed, and capital gains under section 50B were upheld on the transfer. Excise duty actually paid on closing stock was allowed under section 43B. Employee welfare fund contributions were remitted for fresh verification of quantification and related particulars. en-us Mon, 27 Nov 2017 00:00:00 +0530 Fri, 18 Sep 2020 10:54:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290288 Depreciation was allowed on non-compete fee and goodwill as intangible assets, since both were treated as business or commercial rights within section 32(1)(ii). The credit to general reserve on amalgamation was held not taxable under section 28(1)(iv) because the transaction was not business income or a business-related perquisite. Provisions relating to the transferred non-T&D business were disallowed, and capital gains under section 50B were upheld on the transfer. Excise duty actually paid on closing stock was allowed under section 43B. Employee welfare fund contributions were remitted for fresh verification of quantification and related particulars. Case-Laws Income Tax Mon, 27 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290288