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Genpact Wins Tax Case: Intangible Assets Depreciable
Case Law Details
- Case Name
- Genpact Services LLC Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2019-20
- Courts
- All ITAT, ITAT Delhi
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Genpact Services LLC Vs ACIT (ITAT Delhi)
In a significant ruling, the Income Tax Appellate Tribunal (ITAT) Delhi has sided with Genpact Services LLC, confirming that customer contracts and assembled workforce acquired during a business takeover qualify as “intangible assets” eligible for depreciation. This decision, issued on June 6, 2025, for the Assessment Year 2019-20, allows Genpact’s depreciation claim stemming from its 2010 acquisition of a third-party debt collection firm.
The case, Genpact Services LLC Vs ACIT, centered on two primary disputes: the m...
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