Depreciation on Amalgamation Goodwill allowable for AYs prior to AY 2021-22

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 appeals for Assessment ...