Depreciation of brand value allowed

By | November 3, 2016
(Last Updated On: November 3, 2016)

Depreciation of brand value

The Chennai Bench of the Income-tax Appellate Tribunal held that a taxpayer is eligible to claim depreciation with respect to a “brand value” The tribunal found that merely because there was subsequent amalgamation was not a basis for finding the taxpayer had not acquired any brand name. When the taxpayer acquired the brand name by making payment through banking channel before amalgamation, the taxpayer was eligible to claim depreciation. The case is: Emerald Jewel Industry India Ltd. Read an October 2016 report [PDF 329 KB] of KPMG

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