Case Law Details
Case Name : Koch Chemical Technology Group India Pvt. Ltd. Vs Deputy Commissioner of Income Tax (ITAT Mumbai)
Related Assessment Year :
Courts :
All ITAT ITAT Mumbai
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Background
• The taxpayer took over a running business in Assessment Year (AY) 2000-01. The consideration payable towards acquiring the assets and liabilities of the business also included amount attributable towards goodwill. The taxpayer claimed depreciation on goodwill at the rate applicable for intangible assets (25%). The claim for depreciation on goodwill was accepted by the Assessing officer (AO) in AY 2000-01 and subsequent years.
• For AY 2003-04, the AO examine
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