https://www.taxtmi.com/caselaws?id=416357 The Tribunal held that the total consideration was for the acquisition of four trademarks, rejecting the assessee's claim that it was solely for one trademark. Depreciation was allowed for the entire block of trademarks, even if not all were used simultaneously. Additional legal grounds of appeal were admitted without further fact-finding. The AO's adjustment of actual cost without complying with procedural requirements was deemed improper. The assessee's appeal was partly allowed, granting depreciation for the block of assets. Other grounds of appeal were considered irrelevant. en-us Wed, 17 Nov 2021 00:00:00 +0530 Mon, 27 Dec 2021 06:36:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416357 The Tribunal held that the total consideration was for the acquisition of four trademarks, rejecting the assessee's claim that it was solely for one trademark. Depreciation was allowed for the entire block of trademarks, even if not all were used simultaneously. Additional legal grounds of appeal were admitted without further fact-finding. The AO's adjustment of actual cost without complying with procedural requirements was deemed improper. The assessee's appeal was partly allowed, granting depreciation for the block of assets. Other grounds of appeal were considered irrelevant. Case-Laws Income Tax Wed, 17 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416357