GATEWAY DISTRIPARKS(KERALA) LTD,COCHIN vs. ACIT, COCHIN
In the result, the appeal filed by the assessee is dismissed
ITA 216/COCH/2018[2013-14]Status: DisposedITAT Cochin28 Aug 2018AY 2013-14
Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. No.216/Coch/2018 Assessment Year : 2013-14 Gateway Distriparks (Kerala) Vs. The Assistant Commissioner Of Ltd., Door No. 26/1804, Income-Tax, Circle-1(2), Kochi Chakiat House, Subramaniam Road, Willington Island, Kochi-682 003. [Pan:Aaccg 6616P] (Assessee-Appellant) (Revenue-Respondent) Assessee By Shri P.M. Veeramani, Ca Revenue By Smt. A.S. Bindhu, Dr Date Of Hearing 14/08/2018 Date Of Pronouncement 28/08/2018
Section 143(3)Section 263Section 32Section 32(1)(ii)
section 32(1) :-
“(b) intangible assets, being know-how, patents, copyrights, trade marks, licences, franchises or any other business or commercial rights of similar nature”.
A bare perusal of the definition of intangible assets on which depreciation is available u/s 32 makes it clear that the intangible assets so classified are know- how, patents, copyrights, trade marks, licences, franchises
