https://www.taxtmi.com/caselaws?id=442994 Depreciation on a chemical recovery plant is allowable where appellate-stage additional evidence on commissioning and use is examined by the Assessing Officer through remand proceedings, including verification of excise records, Cenvat entries, invoices and gate passes, with no adverse merits finding. Brand names used in a paper manufacturing business qualify as depreciable intangible assets where they constitute trademarks or similar commercial rights under Section 32(1)(ii) read with Explanation 3(b) of the Income-tax Act. A brand falls within the statutory concept of a mark under trade mark law and confers commercially valuable rights. No substantial question of law arose on either issue. en-us Wed, 16 Aug 2023 00:00:00 +0530 Mon, 06 May 2024 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442994 Depreciation on a chemical recovery plant is allowable where appellate-stage additional evidence on commissioning and use is examined by the Assessing Officer through remand proceedings, including verification of excise records, Cenvat entries, invoices and gate passes, with no adverse merits finding. Brand names used in a paper manufacturing business qualify as depreciable intangible assets where they constitute trademarks or similar commercial rights under Section 32(1)(ii) read with Explanation 3(b) of the Income-tax Act. A brand falls within the statutory concept of a mark under trade mark law and confers commercially valuable rights. No substantial question of law arose on either issue. Case-Laws Income Tax Wed, 16 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442994