ITAT Delhi Deletes MAT Adjustment on Goodwill Amortisation

S. C. Johnson Pvt. Ltd Vs DCIT (ITAT Delhi) ITAT Delhi deleted MAT addition on goodwill amortisation in SC Johnson case, noting it was recorded under a court-approved scheme and fully disclosed in audited accounts.  ITAT Delhi holds reassessment invalid in SC Johnson Pvt Ltd case citing change of opinion, mechanical approval, and lack of fresh material. Delhi Bench of the Income Tax Appellate Tribunal (“ITAT”) delivered a common order in three connected appeals filed by S.C. Johnson Pvt. Ltd., engaged in manufacturing and trading of insect control and air care products, relating to Assess...