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

Income Tax

August 7, 2021

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

View Source

← Previous Next →

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

Income Tax

August 7, 2021

You may also like:

Disallowance of depreciation on goodwill - scheme of amalgamation - the very purchase of goodwill is not proved by the assessee - Disallowance of depreciation is thus...

Revision u/s 263 - depreciation claimed on goodwill arose out of amalgamation - PCIT has assumed jurisdiction u/s. 263 of the Act on the sole basis of application of 5th...

Revision u/s 263 by CIT - depreciation on goodwill - the assessee has rightly claimed depreciation on goodwill arise out of amalgamation, because, 5th proviso to...

Disallowance of depreciation on goodwill created in the scheme of amalgamation - The ITAT allowed the claim for depreciation on goodwill, aligning with the precedent set...

Depreciation on intangibles - Whether 5th proviso to Section 32(1) of the Act restricts the total depreciation which can be claimed in case of succession etc. to the...

Depreciation on goodwill - business or commercial rights acquired - goodwill is an asset under Explanation 3(b) to section 32(1) - the depreciation allowed even on the...

Depreciation on goodwill - Business acquired in amalgamation - The ITAT held that, the excess consideration discharged over the net assets, representing goodwill, is...

Depreciation on Goodwill - depreciation on Customer Relationship (CR) & Vendor Relationship (VR) considering them to fall under Any other business or commercial rights...

Allowability of depreciation on the value of goodwill – CIT(A) is not justified in denying the benefit of depreciation claimed by the assessee on the ‘goodwill’ - AT

Depreciation on goodwill – assessee purchased the business lock stock and barrel and has shown the value of the goodwill right from the acquisition onwards -...

Quick Updates: