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Intangible assets being licenses, permits & business approvals purchased in slump sale eligible for dep.

December 26, 2018[2019] 101 taxmann.com 213 (Bombay)/[2019] 261 Taxman 16 (Bombay)
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IT: Where Special Auditor as well as Commissioner (Appeals) and Tribunal concurrently found deputation and other coats as reasonable and necessary to run business, same was to be allowed

IT: Where Special Auditor as well as Commissioner (Appeals) and Tribunal concurrently found hotel management and marketing fees as reasonable and necessary to run business, same was to be allowed

IT: Hotel business of assessee could not be carried out without necessary licenses, permits and approvals; these intangible assets being purchased in slump sale, depreciation was to be allowed at rate of 25 per cent

IT: Part of royalty in respect of which services were recorded as rendered would be receipt in assessee's hand; no addition can be made of balance part for which no service was recorded/rendered

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