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2021 (9) TMI 1541 - AT - Income TaxDisallowance of depreciation on goodwill - As per the scheme of amalgamation, where value of liabilities and amount of equity capital allotted /payment to the equity shareholders exceeds the value of assets of the transferor company taken over, such excess shall debited to the goodwill account - HELD THAT:- We find that this claim is no more res-integra as the issue has been settled in favour of the assessee and against the revenue by the decision of in the case of Smifs Securities Ltd. [2012 (8) TMI 713 - SUPREME COURT] We do not find any error or infirmity in the findings of the CIT(A). Decided against revenue.
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