THE ACIT, CIRCLE-1(1)(1), AHMEDABAD vs. M/S. CLARIS LIMITED ( FORMERLY ALTHEON ENTERPRISES LIMITED), AHMEDABAD

ITA 300/AHD/2022Status: DisposedITAT Ahmedabad22 April 2026AY 2018-1919 pages
AI SummaryDismissed

What were the facts?

The assessee company acquired goodwill through an amalgamation scheme. The Assessing Officer disallowed depreciation on this goodwill, but the CIT(A) deleted the addition. The Revenue appealed this deletion.

What did the Tribunal hold?

The Tribunal held that the CIT(A) was correct in allowing depreciation on goodwill acquired through amalgamation, as the disallowance by the AO was not justified for the assessment years prior to the Finance Act 2021 amendments.

What were the issues?

Whether depreciation is allowable on goodwill acquired through an amalgamation scheme for assessment years prior to the Finance Act 2021 amendments.

Which sections of the Income-tax Act were involved?

Section 32,Section 43(1),Section 43(6)(c),Section 49(1)(iii)(e),Section 55(2)(a)(ii)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AHMEDABAD “D” BENCH

Before: DR. BRR Kumar & Shri T.R. Senthil Kumar

PER : T.R. SENTHIL KUMAR, JUDICIAL MEMBER:-

These two appeals are filed by the Revenue as against separate appellate orders dated 20.05.2022 and 08-06-2022 passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, (in short referred to as “CIT(A)”), arising out of the assessment orders passed under section143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) relating to the Assessment Years 2017-18 and 2018-19 respectively. Since common issue of disallowance of depreciation on I.T.A No. 280 & 300/Ahd/2022 A.Ys. 2017-18 & 2018-19 2 ACIT Vs. Clari

The order continues below.

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