Tag: goodwill

When amalgamation is done in larger interest of business, depreciation on goodwill generated in the course of amalgamation allowable – ITAT In a recent judgment, ITAT Rajkot has held that when the amalgamation was done in the larger interest of business, depreciation should be allowable on the goodwill …

Resulting company is entitled to claim depreciation on goodwill expended at the time of amalgamation of companies.  In a recent judgment, the Hon’ble Supreme Court has dismissed the Special Leave Petition filed by the PCIT approving the judgment of the High Court that the assessee company is entitled …

Goodwill of a business or profession not to be considered depreciable asset and no depreciation to be allowed in any situation. Goodwill not depreciable asset  Hon‘ble Supreme Court has held that Goodwill of a business or profession is a depreciable asset under section 32 of the Act. According …

Depreciation on goodwill and non compete fee allowed by the Tribunal in view of the binding judgment of Hon’ble Supreme Court and jurisdictional High Court    ABCAUS Case Law Citation: ABCAUS 2953 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties CIT Vs. Smifs Securities Ltd., …