Goodwill acquired on Amalgamation is Eligible for Depreciation u/s 32 of Income Tax Act

GBT India Private Limited Vs ACIT (ITAT Delhi)

Facts- The assessee is a wholly owned subsidiary of GBT III BV, Netherlands and is engaged in the business of arranging travel for domestic customers within and outside India by facilitating services entailing booking of air tickets, accommodation, cab, conference rooms, catering services, management of corporate events, public relation services etc. The holding company GBT III BV is a joint venture between American Express Company, USA (Amex, in short

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