Depreciation on goodwill - goodwill as acquired during business ...

Depreciation on goodwill from acquisitions is justified; intellectual property transfers don't affect its value.

May 31, 2023

Case Laws Income Tax AT

Depreciation on goodwill - goodwill as acquired during business acquisition - We find merit in the argument of assessee that the net balance of purchase consideration paid, and the value of net assets acquired is Goodwill and the transfer of IP to BluJay UK cannot affect the value of goodwill as the Goodwill is rightly attributed to all the assets acquired from Four Soft and benefits accrued to BluJay India. Once the existence of Goodwill is established, Depreciation on such goodwill cannot be questioned further. - AT

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Depreciation on goodwill - goodwill as acquired during business ...

Depreciation on goodwill from acquisitions is justified; intellectual property transfers don't affect its value.

May 31, 2023

Case Laws Income Tax AT

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