ITAT allows depreciation on amount paid exceeding net asset value

DN Solutions (India) Private Limited Vs ITO (ITAT Bangalore)

In the case of DN Solutions (India) Private Limited vs. Income Tax Officer (ITAT Bangalore), the issue centered around the eligibility of the assessee to claim depreciation on goodwill arising from the acquisition of another company, Doosan Infraacore Construction Equipment India Private Limited (DICEIPL). Here’s a detailed summary of the case:

Background and Facts: DN Solutions (India) Private Limited, previously known as Doosan Machine Tools India Private Limited, is engaged in trading part

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