Disallowance on account of depreciation on goodwill - Scheme of ...

Court Rules Depreciation on Goodwill Allowed Post-Amalgamation; 5th Proviso Not Applicable as No Prior Claim Made.

August 7, 2021

Case Laws Income Tax AT

Disallowance on account of depreciation on goodwill - Scheme of Amalagamation adopted - the 5th proviso was inserted in order to prevent double claim of the depreciation in respect of the same asset. But these are not the facts in the present case before us as the amalgamating company did not claim any depreciation on the goodwill and therefore the same can not be disallowed - assessee has rightly claimed the depreciation on goodwill. - AT

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Disallowance on account of depreciation on goodwill - Scheme of ...

Court Rules Depreciation on Goodwill Allowed Post-Amalgamation; 5th Proviso Not Applicable as No Prior Claim Made.

August 7, 2021

Case Laws Income Tax AT

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