{"id":25868,"date":"2022-03-22T18:07:19","date_gmt":"2022-03-22T12:37:19","guid":{"rendered":"https:\/\/itatonline.org\/digest\/goldmohar-design-and-apparel-park-ltd-v-pcit-2021-209-ttj-863-mum-trib\/"},"modified":"2022-03-22T18:07:19","modified_gmt":"2022-03-22T12:37:19","slug":"goldmohar-design-and-apparel-park-ltd-v-pcit-2021-209-ttj-863-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/goldmohar-design-and-apparel-park-ltd-v-pcit-2021-209-ttj-863-mum-trib\/","title":{"rendered":"Goldmohar Design and Apparel Park Ltd. v. PCIT (2021) 209 TTJ 863 (Mum.)(Trib.)"},"content":{"rendered":"<p>The Hon\u2019ble Tribunal held that in order to fall within the realm of &#8216;any other business or commercial rights of similar nature&#8217; as contemplated in S. 32(1)(ii) of the Act, and therein to be construed as an &#8220;intangible asset&#8221; eligible for depreciation under the said statutory provision, the &#8216;right&#8217; under consideration would require to cumulatively satisfy a twofold test viz. (i). the right should be a business or commercial right; and (ii) the right though need not answer the description of the six specified intangible assets viz knowhow, patents, copyrights, trademarks, licenses, or franchises, but must be of a similar nature. The claim of the Assessee is thus rejected. (AY. 12-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 263 : Commissioner-Revision of orders prejudicial to revenue-Depreciation-Lease hold rights-Revision is held to be valid. [S. 32(1)(ii)] <\/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-25868","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-6Je","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/25868","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=25868"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/25868\/revisions"}],"predecessor-version":[{"id":25869,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/25868\/revisions\/25869"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=25868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=25868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=25868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}