ITAT Bangalore Directs Re-adjudication on Goodwill Depreciation in Slump Sale

I&B Seeds Private Limited Vs ACIT ( ITAT Bangalore) Introduction: The ITAT Bangalore issued a significant order in the case of I&B Seeds Pvt Ltd vs ACIT, directing re-adjudication on the claimed depreciation for goodwill arising from a slump sale. The order addresses various grounds of appeal, challenging the disallowance of depreciation on goodwill. Detailed Analysis: The appellant, I&B Seeds Pvt Ltd, appealed against NFAC orders for the assessment years 2017-18, 2018-19 & 2020-21. The core issue revolves around the disallowance of depreciation on goodwill arising from the acq...