{"id":14150,"date":"2020-12-06T06:18:08","date_gmt":"2020-12-06T06:18:08","guid":{"rendered":"https:\/\/itatonline.org\/digest\/incap-contract-manufacturing-services-pvt-ltd-v-dy-cit-202078-itr-130-bang-trib\/"},"modified":"2020-12-06T06:18:08","modified_gmt":"2020-12-06T06:18:08","slug":"incap-contract-manufacturing-services-pvt-ltd-v-dy-cit-202078-itr-130-bang-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/incap-contract-manufacturing-services-pvt-ltd-v-dy-cit-202078-itr-130-bang-trib\/","title":{"rendered":"Incap Contract Manufacturing Services Pvt. Ltd. v. Dy. CIT (2020)78 ITR 130 ( Bang) (Trib)"},"content":{"rendered":"<p>The customer relationship rights were in the nature of non-compete fees and such rights were akin to business and commercial rights. In the assessee\u2019s case, depreciation on customer relationship rights treating them as goodwill was allowed following the Supreme Court judgment in the case of\u00a0CIT v. Smifs securities Ltd (\u00a0<a href=\"http:\/\/www.taxlawsonline.com\/%5b2012%5d%20348%20ITR%200302\">2012)\u00a0 348 ITR 302<\/a>\u00a0(SC). Assessee cannot take \u00a0the benefit of new claim in reassessment proceedings . ( AY.2008-09)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 32 : Depreciation &#8211; Customer relationship rights \u2014Non-compete fees akin to any other business or commercial rights \u2014 Depreciation  allowable- Cannot take  benefit of new claim in reassessment proceedings  . [S. 32(1)(ii), 147  ] <\/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":[21],"tags":[],"class_list":["post-14150","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3Ge","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14150","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=14150"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14150\/revisions"}],"predecessor-version":[{"id":14151,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14150\/revisions\/14151"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}