Case Law Details
Case Name : Piem Hotels Limited Vs. Dy. Commissioner of Income Tax (ITAT Mumbai)
Related Assessment Year : 2004- 05
Courts :
All ITAT ITAT Mumbai
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
Licenses and Approvals are “intangible asset and eligible for depreciation under Section 32 of the Income Tax Act, 1961, Section 263 Revision only on ground of non-application of mind
Brief : The assessee, a hotel, incurred expenditure on acquiring licenses and permissions from various government bodies. This was classified as “goodwill” in the books and depreciation was claimed on the ground that it was an “intangible asset” u/s 32(1)(ii). The AO allowed the claim. The CIT passed an order u/s 263 in
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.