Depreciation u/s. 32 allowable on goodwill acquired under slump sale: ITAT Mumbai

Vodafone India Services Pvt Ltd Vs DCIT (ITAT Mumbai)

ITAT Mumbai held the goodwill arising on business reorganization i.e. amalgamation, slump sale, demerger etc. is a depreciable intangible asset under section 32 of the Income Tax Act.

Facts- The assessee company M/s Vodafone India Services Pvt. Ltd. is engaged in the business of Information Technology Enabled Services (ITES) such as Call Centre.

Notably, TPO had made a transfer pricin

Please become a Premium member. If you are already a Premium member, login here to access the full content.