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2019 (11) TMI 1711 - BOMBAY HIGH COURTAmortization / depreciation on goodwill u/s 32 - HELD THAT:- The impugned order of the Tribunal dismissed the Revenue’s appeal upholding view of the Commissioner Income Tax (Appeals) that depreciation on account of goodwill is available to the Respondent. This by following the decision in the case of Commissioner of Income Tax(Appeals) Vs. Smifs Securities Ltd.[2012 (8) TMI 713 - SUPREME COURT] Both the Commissioner Income tax (Appeals) and the Tribunal have come to a concurrent finding of fact on the basis of the scheme of amalgamation that the amount to be paid for taking over the assets of the transferer Company be treated as goodwill to the extent they are in excess of the assets taken over. The issue stands concluded by the decision of the Apex Court in the case of Smifs Securities (supra), the question as proposed does not give rise to any substantial question of law. Thus not entertained.
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