Denial of depreciation on goodwill arising from scheme of ...

Court Directs AO to Grant Depreciation on Goodwill from Amalgamation, After Initially Denying It.

January 14, 2023

Case Laws Income Tax AT

Denial of depreciation on goodwill arising from scheme of amalgamation - on one hand in the remand proceedings, the AO for the first time raised doubts about the valuation report, however, on the other hand AO has allowed depreciation on intangible assets @ 25%, which were also acquired by the assessee and were also revalued in the books of the assessee upon amalgamation. - AO directed to grant depreciation on goodwill arising on account of amalgamation of subsidiary company with the assessee. - AT

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Denial of depreciation on goodwill arising from scheme of ...

Court Directs AO to Grant Depreciation on Goodwill from Amalgamation, After Initially Denying It.

January 14, 2023

Case Laws Income Tax AT

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