TMI BlogDepreciation on the intangible assets/goodwill - the assessee was allowed for depreciation in respect of...Depreciation on the intangible assets/goodwill - the assessee was allowed for depreciation in respect of such goodwill in the 1st year of amalgamation i.e. AY 2006-07. There was no action either u/s 263 or 147 of the Act by the revenue. Therefore we can safely presume that the claim of the depreciation of the assessee in the 1st year has attained finality. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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