Depreciation eligible on goodwill arisen pursuant to business acquisition

Dadha Pharma Distribution Pvt. Ltd. Vs DC/ACIT (OSD) (ITAT Chennai) The only grievance of the assessee is denial of depreciation on goodwill which has arisen pursuant to business acquisition made by the assessee from M/s. Dadha Pharma Private Limited (DPPL). In this case it could be seen that the assessee has acquired distribution business of DPPL w.e.f. 30.09.2015 on slump sale basis which postulate passing of consideration without assigning any values to individual assets and liabilities. It could be seen that the assets and liabilities have been taken over at values as appearing in the fina...