TaxTMI 
TaxTMI 
Assets
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.... or commercial rights of similar nature, not being goodwill of a business or profession As per section 102(2) of the Income tax Act 1961. For the purpose of Chapter X-A(General anti-avoidance rule), unless the context otherwise requires,- "Asset" includes - * property, or * right, of any kind; M/S. Kuantum Papers ltd.- [2023 (9) TMI 616 - DELHI HIGH COURT] ".........
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....r in terms of Explanation-3(a) to section 32(1)(ii) of the Act. Further, the Hon'ble Madras High Court also rejected the plea that the taxpayer acquired intangible assets under the Concessionaire Agreement within the meaning of Explanation -3(b) to section 32(1)(ii) of the Act. The relevant findings of the Hon'ble Madras High Court are reproduced as follows: - "120. We are of the view that the s....
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....ng has to be inferred from the meaning of the expression "know-how", "patents", "copy rights", "trademark", "franchises" by applying the principle of nocitur a sociis. 123. In Maxwell's Interpretation of Statutes (12th Edition) at page 289, it has been stated as follows:- "Where two or more words which are susceptible of analogous meaning are coupled together, noci....
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....2012 (4) TMI 79 - DELHI HIGH COURT] "..................On a perusal of the meaning of the categories of specific intangible assets referred in Section 32(1)(ii) of the Act preceding the term "business or commercial rights of similar nature", it is seen that the aforesaid intangible assets are not of the same kind and are clearly distinct from one another. The fact that after the specified intang....