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Excess amalgamation Consideration Goodwill Depreciable under Section 32
Case Law Details
- Case Name
- DCIT Vs Echjay Industries Pvt. Ltd (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Mumbai
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DCIT Vs Echjay Industries Pvt. Ltd (ITAT Mumbai)
The Income Tax Appellate Tribunal (ITAT), Mumbai, considered two appeals filed by the Revenue against the orders of the Commissioner of Income-tax (Appeals) [CIT(A)] for assessment years 2018-19 and 2020-21 concerning Echjay Industries Pvt. Ltd. Both appeals raised identical issues regarding the allowance of depreciation on goodwill arising from a scheme of amalgamation approved by the Gujarat High Court. For convenience, the Tribunal heard both appeals together and issued a consolidated order.
In the 2018-19 assessment, the Rev...
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