Depreciation eligible on Goodwill acquired under slump sale agreement

AVIS Hospitals India Limited Vs ACIT (ITAT Hyderabad) ITAT held that by acquiring business rights along with tangible assets, the assessee got an up and running business and the specified intangible assets acquired under slump sale agreement are in the nature of any other business or commercial rights of a similar nature on which depreciation is allowable. In the instant case assessee has acquired Hyderabad business of Beams Hospitals Private Limited as a going concern and on a slump sale basis by paying a consideration of Rs. 7.94 crores as per the slump sale agreement between AVIS Hospitals ...