Amalgamation Goodwill Eligible for Depreciation; Notional Interest on AE Receivables Deleted: ITAT Delhi

Advertisement LNW India Solutions Pvt. Ltd. Vs ACIT/TPO (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT), Delhi, partly allowed the assessee’s appeals for Assessment Years (AYs) 2017-18 and 2018-19, holding that depreciation on goodwill arising from amalgamation was allowable and deleting the transfer pricing adjustment made on account of notional interest on outstanding receivables from associated enterprises (AEs). The assessee, a wholly owned subsidiary of a foreign group company engaged in captive software development services, had acquired shares of WMS Gaming Solutions Indi...