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ITAT Bangalore Directs Re-adjudication on Goodwill Depreciation in Slump Sale
Case Law Details
- Case Name
- I&B Seeds Private Limited Vs ACIT ( ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Bangalore
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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...
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