Goodwill is Intangible Asset & Depreciation allowed

M/s. Banc Tec TPS India. Pvt. Ltd. Vs ACIT (ITAT Mumbai) Insofar as the factual position relating to the aforesaid issue is concerned, there is no dispute. Even the Assessing Officer has stated that the assessee had transferred its business on slump sale basis to which included goodwill of Rs. 11,51,01,122. The aforesaid goodwill was also reflected not only in the respective books of account of the assessee and the transferee company but also appears in the financial statements.  It is also a fact that the subsequent amalgamation between the assessee and Tracmail AR Services Pvt. Ltd. was by ...