Friday, October 18, 2019

No denial of dep. on trademark just because agreement on acquisition was entered into on post-dated stamp papers

INCOME TAX : Where assessee, engaged in trading and distribution of mobile phones and accessories, acquired trademark from another concern, its claim for depreciation in respect of same could not be rejected on ground that agreement to acquire trademark was entered into on post dated stamp paper

from www.taxmann.com Latest Case Laws https://ift.tt/32rdE45

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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