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2012 (7) TMI 686 - AT - Income TaxDepreciation on goodwill - Treatment of Goodwill Arising on Amalgamation - held that:- If the assessee had paid more than the fair market value of assets minus the fair market value of liabilities, then the company would have a case to claim that certain amounts were incurred for goodwill. In the absence of such an exercise, we are of the considered opinion that there is no goodwill in the nature of commercial rights purchase by the assessee. This is only a book entry and it is only another way of disclosing the intrinsic value of the fixed asset of the company. - Decided against the assessee.
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