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2022 (7) TMI 268 - AT - Income TaxDepreciation on goodwill - assessee company acquired the Hyderabad business of Beams Hospitals Private Limited as a going concern and on a slump sale basis by paying a consideration - HELD THAT:- As transfer is not between same group concerns or related concerns. Therefore, the decision relied by the ld.CIT-DR is not applicable to the facts of the present case. In view of the above discussion and respectfully following the decisions cited ZYDUS WELLNESS LTD. [2019 (2) TMI 1775 - SC ORDER],TRIUNE ENERGY SERVICES PRIVATE LIMITED [2015 (11) TMI 1218 - DELHI HIGH COURT] AND SMIFS SECURITIES LTD. [2012 (8) TMI 713 - SUPREME COURT] we hold that the ld.CIT(A) is not justified in denying the claim of depreciation on goodwill claimed by the assessee. We, therefore set aside the order of the ld.CIT(A) and allow the claim of depreciation on goodwill for the impugned assessment year. The grounds raised by the assessee on this issue are accordingly allowed.
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