Depreciation on Amalgamation Goodwill allowable for AYs prior to AY 2021-22

Advertisement ACIT Vs Claris Limited (ITAT Ahmedabad) ITAT Allows Depreciation on Amalgamation Goodwill Because Finance Act 2021 Amendments Apply Prospectively; Goodwill Arising From Excess Consideration in Amalgamation Eligible for Depreciation; ITAT Rejects Revenue’s Claim of Artificially Inflated Goodwill in Amalgamation Scheme; Exchange of Shares Valid Consideration for Acquisition of Goodwill; ITAT Upholds DCF Valuation Method While Allowing Goodwill Depreciation Claim. In ACIT Vs Claris Limited, the Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) dismissed Revenue appeal...