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Depreciation on Amalgamation Goodwill allowable for AYs prior to AY 2021-22
Case Law Details
- Case Name
- ACIT Vs Claris Limited (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Ahmedabad
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ACIT Vs Claris Limited (ITAT Ahmedabad)
ITAT Allows Depreciation on Amalgamation Goodwill Because Finance Act 2021 Amendments Apply Prospectively; Goodwill Arising From Excess Consideration in Amalgamation Eligible for Depreciation; ITAT Rejects Revenue’s Claim of Artificially Inflated Goodwill in Amalgamation Scheme; Exchange of Shares Valid Consideration for Acquisition of Goodwill; ITAT Upholds DCF Valuation Method While Allowing Goodwill Depreciation Claim.
In ACIT Vs Claris Limited, the Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) dismissed Revenue appeal...
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