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Income Tax - Highlights / Catch Notes

Home Highlights November 2021 Year 2021 This

Depreciation on goodwill generated in the scheme of amalgamation ...


Depreciation on Amalgamation Goodwill: Consistency Required Without Changing Initial Origination Year.

November 23, 2021

Case Laws     Income Tax     AT

Depreciation on goodwill generated in the scheme of amalgamation - the depreciation on the goodwill originated in the earlier year cannot be disturbed in the year under consideration without disturbing the year in which it was instigated. In fact, the claim of the assessee for the amount of depreciation on the goodwill should be allowed based on consistency in the given facts and circumstances. - AT

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