Depreciation on goodwill available as it being integral part of amalgamation

Real Eco-Energy Limited Vs ITO (ITAT Ahmedabad)

ITAT Ahmedabad held that depreciation on goodwill duly available as goodwill has been taken into account while determining the face value of the shares which is treated as consideration in the scheme of amalgamation.

Facts- Post filing of original return, assessee filed revised return declaring business loss and capital gain. The assessee company viz. Hillock Agro Foods (India) Limited had applied for a scheme of demerger of

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