← All Phrases

“depreciation on goodwill”

DepreciationSection 32Section 32346 judgments

The decision most relied on for depreciation on goodwill is CIT v. Smifs Securities Ltd. (348 ITR 302), cited in 540 judgments on BharatTax.

Leading authorities on depreciation on goodwill

CIT v. Smifs Securities Ltd.
348 ITR 302 · 2012 · Supreme Court
540
citing judgments

Goodwill, whether arising from an amalgamation or a slump sale, is an intangible asset eligible for depreciation under Section 32(1) of the Income-tax Act. While the assessee must prove the existence and valuation of such goodwill, it is recognized as a depreciable asset.

Areva T&D India Ltd. v. DCIT
345 ITR 421 · 2012 · High Court
97
citing judgments

Business contracts and commercial rights of similar nature qualify as intangible assets under Section 32(1)(ii) and are eligible for depreciation. The decision also affirms that goodwill is an intangible asset eligible for depreciation.

Additional/Joint/Deputy/Assistant Commissioner of Incometax/Income-tax Officer v. Mylan Laboratories Ltd.
137 Taxmann.com 178 · 2022 · High Court
60
citing judgments

Goodwill arising on amalgamation is entitled to depreciation. This principle is established by multiple High Court decisions.

Beverages 331 ITR 192 (Del) B.Raveendran Pillai v. CIT
237 Taxmann 230 · 2016 · High Court
59
citing judgments

Goodwill arising on amalgamation is an intangible asset qualifying for depreciation under Section 32 of the Income Tax Act.

Ashwin Vanaspati Industries v. CIT
255 ITR 26 · 2002 · High Court
57
citing judgments

Depreciation is allowable on goodwill acquired through the slump sale of a business. When an assessee claims depreciation on the enhanced cost of an asset supported by a registered valuer's report, tax authorities must produce countervailing evidence, such as a departmental valuation report, to challenge it, rather than simply disregarding the expert opinion.

Kerala Vision Ltd. v. ACIT (
35 Taxmann.com 463 · 2013 · ITAT
52
citing judgments

Transactions carried out on the purchase of off-the-shelf software prior to the jurisdictional High Court's decision in CIT v. Samsung Electronics Co. Ltd. (October 15, 2011) are not liable for Tax Deducted at Source (TDS).

Thiru Arooran Sugar Ltd. v. DCIT
350 ITR 324 · 2013 · High Court
44
citing judgments

A deduction for interest expense on borrowed funds used for interest-free advances to group companies is permissible only if the assessee establishes these advances were from surplus funds. The decision further clarifies eligibility for depreciation on intangible assets like non-compete fees, software, goodwill, and commercial rights under section 32(1)(ii), often arising from a slump sale.

Triune Energy Services (P.) Ltd. v. DCIT
65 Taxmann.com 288 · 2016 · High Court
42
citing judgments

When a business is purchased as a going concern, the consideration paid in excess of the value of its tangible assets is classified as goodwill, which is an intangible asset eligible for depreciation without needing a separate valuation.

Judgments citing depreciation on goodwill

DCIT, Delhi vs. Punjab National Bank, Delhi

In the result, the appeal of the Revenue in ITA No

ITA 2948/DEL/2024[2017-18]Status: DisposedITAT Delhi04 Jul 2025AY 2017-18

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

For Appellant: Shri K. Sampath, CAFor Respondent: Ms. Harpreet Kaur Hansra, Sr. DR
Section 14ASection 32(1)Section 36(1)(viii)Section 43B

Respectfully following the same, we dismiss Ground No. 4 of the Revenue. 22. Ground No. 5 pertains to depreciation on Goodwill. Page 16 of 23 ITA No. 2948/DEL/2024 [A.Y. 2017-18] The Dy. CI.T. Vs. Punjab National Bank 23. During the FY 2002-03, erstwhile Nedungadi Bank Ltd was merged

Jt. Cti (OSD), Circle-3(1)(1), Ahmedabad vs. M/S. Nirma Limited, Ahmedabad

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

ITA 791/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad30 Jun 2025AY 2014-15

Bench: Dr. B.R.R. Kumar, Vice- & Ms. Suchitra R. Kamble

For Appellant: Shri S.N. Soparkar, Sr.AdvocateFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 143(3)Section 2(24)(x)Section 234BSection 271

facts and circumstances of the Appellant's case, the learned CIT(A) has grossly erred in confirming disallowance of depreciation on goodwill for Rs.23,03,33,7827- 4) In law and in facts and circumstances of the Appellant's case, the learned CIT (A) has grossly erred in holding that ... facts and circumstances of the Appellant's case, the learned CIT(A) has grossly erred in confirming disallowance of depreciation on goodwill for Rs.17,27,50,337/- 4) In law and in facts and circumstances of the Appellant's case, the learned CIT (A) has grossly erred in holding that

Nirma Limited, Ahmedabad vs. DCIT, Circle-3(1)(1), Ahmedabad

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

ITA 516/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad30 Jun 2025AY 2014-15

Bench: Dr. B.R.R. Kumar, Vice- & Ms. Suchitra R. Kamble

For Appellant: Shri S.N. Soparkar, Sr.AdvocateFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 143(3)Section 2(24)(x)Section 234BSection 271

facts and circumstances of the Appellant's case, the learned CIT(A) has grossly erred in confirming disallowance of depreciation on goodwill for Rs.23,03,33,7827- 4) In law and in facts and circumstances of the Appellant's case, the learned CIT (A) has grossly erred in holding that ... facts and circumstances of the Appellant's case, the learned CIT(A) has grossly erred in confirming disallowance of depreciation on goodwill for Rs.17,27,50,337/- 4) In law and in facts and circumstances of the Appellant's case, the learned CIT (A) has grossly erred in holding that

The DCIT, Cir-3(1)(1), Ahmedabad vs. M/S. Nirma Limited, Ahmedabad

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

ITA 2224/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad30 Jun 2025AY 2013-14

Bench: Dr. B.R.R. Kumar, Vice- & Ms. Suchitra R. Kamble

For Appellant: Shri S.N. Soparkar, Sr.AdvocateFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 143(3)Section 2(24)(x)Section 234BSection 271

facts and circumstances of the Appellant's case, the learned CIT(A) has grossly erred in confirming disallowance of depreciation on goodwill for Rs.23,03,33,7827- 4) In law and in facts and circumstances of the Appellant's case, the learned CIT (A) has grossly erred in holding that ... facts and circumstances of the Appellant's case, the learned CIT(A) has grossly erred in confirming disallowance of depreciation on goodwill for Rs.17,27,50,337/- 4) In law and in facts and circumstances of the Appellant's case, the learned CIT (A) has grossly erred in holding that

M/S. Nirma Limited, Ahmedabad vs. The DCIT, Circle-3(1)(1), Ahmedabad

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

ITA 2008/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad30 Jun 2025AY 2013-14

Bench: Dr. B.R.R. Kumar, Vice- & Ms. Suchitra R. Kamble

For Appellant: Shri S.N. Soparkar, Sr.AdvocateFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 143(3)Section 2(24)(x)Section 234BSection 271

facts and circumstances of the Appellant's case, the learned CIT(A) has grossly erred in confirming disallowance of depreciation on goodwill for Rs.23,03,33,7827- 4) In law and in facts and circumstances of the Appellant's case, the learned CIT (A) has grossly erred in holding that ... facts and circumstances of the Appellant's case, the learned CIT(A) has grossly erred in confirming disallowance of depreciation on goodwill for Rs.17,27,50,337/- 4) In law and in facts and circumstances of the Appellant's case, the learned CIT (A) has grossly erred in holding that

M/S. Nirma Limited, Ahmedabad vs. The DCIT, Circle-3(1)(1), Ahmedabad

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

ITA 2007/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad30 Jun 2025AY 2012-13

Bench: Dr. B.R.R. Kumar, Vice- & Ms. Suchitra R. Kamble

For Appellant: Shri S.N. Soparkar, Sr.AdvocateFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 143(3)Section 2(24)(x)Section 234BSection 271

facts and circumstances of the Appellant's case, the learned CIT(A) has grossly erred in confirming disallowance of depreciation on goodwill for Rs.23,03,33,7827- 4) In law and in facts and circumstances of the Appellant's case, the learned CIT (A) has grossly erred in holding that ... facts and circumstances of the Appellant's case, the learned CIT(A) has grossly erred in confirming disallowance of depreciation on goodwill for Rs.17,27,50,337/- 4) In law and in facts and circumstances of the Appellant's case, the learned CIT (A) has grossly erred in holding that

Invesco(India) Private Limited, Hyderabad vs. DCIT, Circle -2 (1), Hyderabad

In the result, appeal of the Assessee is partly allowed for statistical purposes

ITA 111/HYD/2022[2017-18]Status: DisposedITAT Hyderabad30 Jun 2025AY 2017-18

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

For Appellant: CA, Sriram SeshadriFor Respondent: Shri B Bala Krishna, CIT-DR
Section 143(3)Section 144C(5)

credit period. 15. The next issue that came-up for consideration through ground no.3 of assessee’s appeal is, addition towards disallowance of depreciation on goodwill arising on amalgamation of Rs.35,30,75,402/-. 16. During the financial year relevant to assessment year 2017-2018, the assessee has introduced goodwill ... assessee has filed objections before the DRP and challenged the addition made by the Assessing Officer towards disallowance of depreciation on goodwill arising on account of amalgamation. The assessee has also challenged 21 ITA.No.111/Hyd./2022 the reasons given by the Assessing Officer to disregard the recognition of goodwill

Assistant Commissioner of Income Tax, Circle 1, Jodhpur vs. Suncity Metals and Tubes Pvt. Ltd., Jodhpur

In the result, the revenue appeal is dismissed

ITA 267/JODH/2024[2020-21]Status: DisposedITAT Jodhpur24 Jun 2025AY 2020-21

Bench: Dr. Mitha Lal Meena, HonʼBle & Dr. S. Seethalakshmi, Hon'Ble

Section 32(1)Section 32(1)(ii)Section 43(1)Section 55(2)(a)

justified in facts and on law in deleting the addition of Rs. 4,00,78,257/- on account of disallowance of depreciation on goodwill, by not adjudicating on the finding of the ,ACIT that in the case of assessee the value claimed to have been assigned to Goodwill ... does not override the provisions of 5th proviso to section 32(1), now 6th proviso which restricts the claim of depreciation in goodwill. It is clear that the depreciation claim in the hands of the assessee is subjected to the 5th (now 6th proviso) to section

Agricom Foods Private Limited, Mumbai vs. DCIT, Central Circle 4(4), Mumbai

In the result, the appeal filed by the assessee is partly allowed

ITA 2740/MUM/2025[2017-18]Status: DisposedITAT Mumbai16 Jun 2025AY 2017-18

Bench: Shri Sandeep Gosain, () & Shri Prabhash Shankar, ()

Section 143(1)Section 143(2)Section 153ASection 154Section 250

upon the assessee. At the very outset, we noticed that the assessment order in this case was passed on 30/09/2021, thereby disallowing the depreciation of goodwill. 3. Aggrieved by the said order, assessee preferred appeal before the Ld. CIT(A) and also filed rectification application before ... ground that for the year under consideration, the assessee has not claimed any depreciation on goodwill. However, during the course of pendency of the appeal before the Ld. CIT(A), the AO after examining the facts, allowed the application for rectification u/s. 154 of the Act, vide order dated

ACIT., Circle-5(1), Hyderabad vs. Mylan Laboratories Limited, Hyderabad

In the result. appeal of the Assessee is partly allowed for statistical purposes and appeal of Revenue is partly allowed for statistical purposes

ITA 708/HYD/2022[2016-17]Status: DisposedITAT Hyderabad06 Jun 2025AY 2016-17

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

For Appellant: [Through Hybrid Hearing]For Respondent: MS. M. Narmada, CIT-DR
Section 115JSection 92C

thus, has adopted TNMM as the most appropriate method. The TPO had also recomputed operating cost of the appellant company by including depreciation on goodwill by holding that, depreciation on goodwill is operating in nature because, the goodwill created by the appellant company in its books of accounts ... additions made by the Assessing Officer including TP adjustment as suggested by the TPO under section 92CA(3) of the Act, disallowance of depreciation on goodwill u/sec.32; disallowance of depreciation on non-compete fee, disallowance of expenditure u/sec.14A and disallowance of excess weighted deduction claim u/sec.35

Mylan Laboratories Limited, Hyderabad vs. ACIT, Circle-5(1), Hyderabad

In the result. appeal of the Assessee is partly

ITA 663/HYD/2022[2016-17]Status: DisposedITAT Hyderabad06 Jun 2025AY 2016-17

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

For Appellant: CA Padamchand KhinchaFor Respondent: MS. M. Narmada, CIT-DR
Section 115JSection 92C

thus, has adopted TNMM as the most appropriate method. The TPO had also recomputed operating cost of the appellant company by including depreciation on goodwill by holding that, depreciation on goodwill is operating in nature because, the goodwill created by the appellant company in its books of accounts ... additions made by the Assessing Officer including TP adjustment as suggested by the TPO under section 92CA(3) of the Act, disallowance of depreciation on goodwill u/sec.32; disallowance of depreciation on non-compete fee, disallowance of expenditure u/sec.14A and disallowance of excess weighted deduction claim u/sec.35

Deputy Commissioner of Income-Tax, Chennai vs. Indian Overseas Bank, Chennai

In the result, appeal filed by the revenue for AY 2021-22 is partly allowed for statistical purpose

ITA 377/CHNY/2024[2021-22]Status: DisposedITAT Chennai30 May 2025AY 2021-22

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपीलसं./I.T.A.Nos.299 & 300/Chny/2024 (िनधा"रण वष" / Assessment Years: 2020-21 & 2021-22) Vs Deputy Commissioner Of Income Indian Overseas Bank, 763, Anna Salai, Tax, Chennai-600 002. Non-Corporate Circle - 8, Chennai. Pan : Aaaci-1223-J (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपीलसं./I.T.A.Nos.354 & 377/Chny/2024 (िनधा"रणवष" / Assessment Years: 2020-21 & 2021-22) Deputy Commissioner Of Income Vs Indian Overseas Bank, Tax, 763, Anna Salai, Non-Corporate Circle - 8, Chennai-600 002. Chennai. Pan : Aaaci-1223-J (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr. C.Naresh, C.A
Section 143(2)Section 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 43BSection 90

paid during the year by misconstruing the same as provision for leave salary and confirming the disallowance of the said amounts. Depreciation on goodwill 4.1 The Ld CIT(A) erred in denying depreciation on goodwill on the contention that the same was internally generated, overlooking the fact that the same ... raised by the assessee is allowed for statistical purposes. 6. The next ground of appeal raised by the assessee is in regard to depreciation on goodwill amounting to Rs.2,60,29,537/-. The learned counsel for the assessee submitted that during the year under consideration, the assessee claimed depreciation

DCIT Non Corporate Circle-8, Chennai vs. Indian Overseas Bank, Chennai

In the result, appeal filed by the revenue for AY 2021-22 is partly allowed for statistical purpose

ITA 354/CHNY/2024[2020-21]Status: DisposedITAT Chennai30 May 2025AY 2020-21

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपीलसं./I.T.A.Nos.299 & 300/Chny/2024 (िनधा"रण वष" / Assessment Years: 2020-21 & 2021-22) Vs Deputy Commissioner Of Income Indian Overseas Bank, 763, Anna Salai, Tax, Chennai-600 002. Non-Corporate Circle - 8, Chennai. Pan : Aaaci-1223-J (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपीलसं./I.T.A.Nos.354 & 377/Chny/2024 (िनधा"रणवष" / Assessment Years: 2020-21 & 2021-22) Deputy Commissioner Of Income Vs Indian Overseas Bank, Tax, 763, Anna Salai, Non-Corporate Circle - 8, Chennai-600 002. Chennai. Pan : Aaaci-1223-J (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr. C.Naresh, C.A
Section 143(2)Section 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 43BSection 90

paid during the year by misconstruing the same as provision for leave salary and confirming the disallowance of the said amounts. Depreciation on goodwill 4.1 The Ld CIT(A) erred in denying depreciation on goodwill on the contention that the same was internally generated, overlooking the fact that the same ... raised by the assessee is allowed for statistical purposes. 6. The next ground of appeal raised by the assessee is in regard to depreciation on goodwill amounting to Rs.2,60,29,537/-. The learned counsel for the assessee submitted that during the year under consideration, the assessee claimed depreciation

Indian Overseas Bank, Chennai vs. DCIT(A), Chennai

In the result, appeal filed by the revenue for AY 2021-22 is partly allowed for statistical purpose

ITA 300/CHNY/2024[2021-22]Status: DisposedITAT Chennai30 May 2025AY 2021-22

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपीलसं./I.T.A.Nos.299 & 300/Chny/2024 (िनधा"रण वष" / Assessment Years: 2020-21 & 2021-22) Vs Deputy Commissioner Of Income Indian Overseas Bank, 763, Anna Salai, Tax, Chennai-600 002. Non-Corporate Circle - 8, Chennai. Pan : Aaaci-1223-J (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपीलसं./I.T.A.Nos.354 & 377/Chny/2024 (िनधा"रणवष" / Assessment Years: 2020-21 & 2021-22) Deputy Commissioner Of Income Vs Indian Overseas Bank, Tax, 763, Anna Salai, Non-Corporate Circle - 8, Chennai-600 002. Chennai. Pan : Aaaci-1223-J (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr. C.Naresh, C.A
Section 143(2)Section 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 43BSection 90

paid during the year by misconstruing the same as provision for leave salary and confirming the disallowance of the said amounts. Depreciation on goodwill 4.1 The Ld CIT(A) erred in denying depreciation on goodwill on the contention that the same was internally generated, overlooking the fact that the same ... raised by the assessee is allowed for statistical purposes. 6. The next ground of appeal raised by the assessee is in regard to depreciation on goodwill amounting to Rs.2,60,29,537/-. The learned counsel for the assessee submitted that during the year under consideration, the assessee claimed depreciation

Indian Overseas Bank, Chennai vs. DCIT(A), Chennai

In the result, appeal filed by the revenue for AY 2021-22 is partly allowed for statistical purpose

ITA 299/CHNY/2024[2020-21]Status: DisposedITAT Chennai30 May 2025AY 2020-21

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपीलसं./I.T.A.Nos.299 & 300/Chny/2024 (िनधा"रण वष" / Assessment Years: 2020-21 & 2021-22) Vs Deputy Commissioner Of Income Indian Overseas Bank, 763, Anna Salai, Tax, Chennai-600 002. Non-Corporate Circle - 8, Chennai. Pan : Aaaci-1223-J (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपीलसं./I.T.A.Nos.354 & 377/Chny/2024 (िनधा"रणवष" / Assessment Years: 2020-21 & 2021-22) Deputy Commissioner Of Income Vs Indian Overseas Bank, Tax, 763, Anna Salai, Non-Corporate Circle - 8, Chennai-600 002. Chennai. Pan : Aaaci-1223-J (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr. C.Naresh, C.A
Section 143(2)Section 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 43BSection 90

paid during the year by misconstruing the same as provision for leave salary and confirming the disallowance of the said amounts. Depreciation on goodwill 4.1 The Ld CIT(A) erred in denying depreciation on goodwill on the contention that the same was internally generated, overlooking the fact that the same ... raised by the assessee is allowed for statistical purposes. 6. The next ground of appeal raised by the assessee is in regard to depreciation on goodwill amounting to Rs.2,60,29,537/-. The learned counsel for the assessee submitted that during the year under consideration, the assessee claimed depreciation

Arvind Fashions Limited, Ahmedabad vs. The PCIT, Ahmedabad-1, Ahmedabad

In the result, the appeal filed by the Assessee is allowed

ITA 913/AHD/2024[2018-19]Status: DisposedITAT Ahmedabad29 May 2025AY 2018-19

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

Section 143(3)Section 14ASection 263

case of Bodal Chemicals Ltd. Vs. ACIT reported in [2019] 112 taxmann.com 217 held that pursuant to scheme of amalgamation, assessee claimed depreciation on goodwill representing higher amount paid to transferor company as compared to its net assets, in view of fact that relevant year was second year of amalgamation

Gilbarco Veeder Root India Pvt. Ltd., Coimbatore vs. ACIT, Corporate Circle-1, Coimbatore

In the result, both the appeals filed by the assessee for the A

ITA 286/CHNY/2025[2019-20]Status: DisposedITAT Chennai26 May 2025AY 2019-20

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपीलसं./Ita Nos.283, 284, 285 & 286/Chny/2025 ("नधा"रण वष" / Assessment Years: 2013-14, 2014-15, 2018-19 & 2019-20)

For Appellant: Shri S.P. Chidambaram, AdvocateFor Respondent: Ms. Anitha, Addl. CIT
Section 32

contrary to mandatory provisions of the Income-tax Act, 1961 ("Act"), lacks jurisdiction and is liable to be struck down. 2. Disallowance of depreciation on goodwill 2.1 The AO and NFAC has erred, in law and in facts in disallowing the claim on depreciation of arising out of acquired employee ... contrary to mandatory provisions of the Income-tax Act, 1961 ("Act"), lacks jurisdiction and is liable to be struck down. 2. Disallowance of depreciation on goodwill 2.1 The AO and NFAC has erred, in law and in facts in disallowing the claim on depreciation of arising out of acquired employee

Gilbarco Veeder Root India Pvt. Ltd., Coimbatore vs. ACIT, Corporate Circle-1, Coimbatore

In the result, both the appeals filed by the assessee for the A

ITA 285/CHNY/2025[2018-19]Status: DisposedITAT Chennai26 May 2025AY 2018-19

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपीलसं./Ita Nos.283, 284, 285 & 286/Chny/2025 ("नधा"रण वष" / Assessment Years: 2013-14, 2014-15, 2018-19 & 2019-20)

For Appellant: Shri S.P. Chidambaram, AdvocateFor Respondent: Ms. Anitha, Addl. CIT
Section 32

contrary to mandatory provisions of the Income-tax Act, 1961 ("Act"), lacks jurisdiction and is liable to be struck down. 2. Disallowance of depreciation on goodwill 2.1 The AO and NFAC has erred, in law and in facts in disallowing the claim on depreciation of arising out of acquired employee ... contrary to mandatory provisions of the Income-tax Act, 1961 ("Act"), lacks jurisdiction and is liable to be struck down. 2. Disallowance of depreciation on goodwill 2.1 The AO and NFAC has erred, in law and in facts in disallowing the claim on depreciation of arising out of acquired employee

Gilbarco Veeder Root India Pvt. Ltd., Coimbatore vs. ACIT, Corporate Circle-1, Coimbatore

In the result, both the appeals filed by the assessee for the A

ITA 284/CHNY/2025[2014-15]Status: DisposedITAT Chennai26 May 2025AY 2014-15

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपीलसं./Ita Nos.283, 284, 285 & 286/Chny/2025 ("नधा"रण वष" / Assessment Years: 2013-14, 2014-15, 2018-19 & 2019-20)

For Appellant: Shri S.P. Chidambaram, AdvocateFor Respondent: Ms. Anitha, Addl. CIT
Section 32

contrary to mandatory provisions of the Income-tax Act, 1961 ("Act"), lacks jurisdiction and is liable to be struck down. 2. Disallowance of depreciation on goodwill 2.1 The AO and NFAC has erred, in law and in facts in disallowing the claim on depreciation of arising out of acquired employee ... contrary to mandatory provisions of the Income-tax Act, 1961 ("Act"), lacks jurisdiction and is liable to be struck down. 2. Disallowance of depreciation on goodwill 2.1 The AO and NFAC has erred, in law and in facts in disallowing the claim on depreciation of arising out of acquired employee

Gilbarco Veeder Root India Pvt. Ltd., Coimbatore vs. ACIT, Corporate Circle-1, Coimbatore

In the result, both the appeals filed by the assessee for the A

ITA 283/CHNY/2025[2013-14]Status: DisposedITAT Chennai26 May 2025AY 2013-14

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपीलसं./Ita Nos.283, 284, 285 & 286/Chny/2025 ("नधा"रण वष" / Assessment Years: 2013-14, 2014-15, 2018-19 & 2019-20)

For Appellant: Shri S.P. Chidambaram, AdvocateFor Respondent: Ms. Anitha, Addl. CIT
Section 32

contrary to mandatory provisions of the Income-tax Act, 1961 ("Act"), lacks jurisdiction and is liable to be struck down. 2. Disallowance of depreciation on goodwill 2.1 The AO and NFAC has erred, in law and in facts in disallowing the claim on depreciation of arising out of acquired employee ... contrary to mandatory provisions of the Income-tax Act, 1961 ("Act"), lacks jurisdiction and is liable to be struck down. 2. Disallowance of depreciation on goodwill 2.1 The AO and NFAC has erred, in law and in facts in disallowing the claim on depreciation of arising out of acquired employee