ITAT Mumbai Upholds Goodwill Depreciation & Section 80G CSR Deduction

Advertisement ACIT 7(1)(1) Vs Horizon Packs Pvt. Ltd. (ITAT Mumbai) ITAT Upholds Goodwill Depreciation Because Opening Written Down Value Cannot Be Reopened; ITAT Allows Section 80G Deduction for CSR Expenditure Because It Operates Independently of Section 37; ITAT Upholds Goodwill Depreciation and Section 80G CSR Deduction Because Earlier Assessment Was Not Disturbed. The Income Tax Appellate Tribunal (ITAT), Mumbai dismissed the Revenue’s appeals for Assessment Years 2018-19 and 2020-21, upholding the orders of the CIT(A) on depreciation on goodwill arising from amalgamation and, fo...