{"id":10086,"date":"2020-02-24T02:08:45","date_gmt":"2020-02-24T02:08:45","guid":{"rendered":"http:\/\/itatonline.org\/digest\/bata-india-ltd-v-dcit-2020-180-itd-464-kol-trib-5\/"},"modified":"2020-02-24T02:08:45","modified_gmt":"2020-02-24T02:08:45","slug":"bata-india-ltd-v-dcit-2020-180-itd-464-kol-trib-5","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/bata-india-ltd-v-dcit-2020-180-itd-464-kol-trib-5\/","title":{"rendered":"Bata India Ltd. v. DCIT (2020) 180 ITD 464 (Kol) (Trib.)"},"content":{"rendered":"<p>The assessee had sold one of its registered trademark for certain consideration and paid VAT to State Government on sale consideration . Since VAT was paid wholly and exclusively in connection with &#8216;transfer&#8217; of trademark, said amount was claimed as deduction under S. 48 of the Act . AO\u00a0 held that cost of such capital asset was to be deemed as &#8216;NIL&#8217; and, therefore, expenditure on VAT could not be allowed as deduction while computing capital gains. CIT (A) deleted the addition . Tribunal held that\u00a0 since assessee had to mandatorily pay statutory levy at time of &#8216;transfer of intangible to transferee, said expenditure was incurred wholly and exclusively in connection with transfer of capital asset and was allowable as deduction. (AY. 2008 -09)\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 48 : Capital gains \u2013 Computation -VAT payment made by assessee at time of transfer of trademark is allowable as deduction  [ S.45 48] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10086","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2CG","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=10086"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10086\/revisions"}],"predecessor-version":[{"id":10087,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10086\/revisions\/10087"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=10086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=10086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=10086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}