SRF LIMITED,DELHI vs. ASSISTANT / DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 10(1), NEW DELHI, DELHI

In the result, the appeal filed by the assessee is partly allowed as indicated above

XI. Disallowance of Depreciation of Goodwill amounting to Rs. 10,77,290/- 59.0 That the Ld. DRP and consequently the Ld. AO have erred in law and on the facts & circumstances of the assessee’s case in making the disallowance of depreciation of Rs. 10,77,290/- on goodwill arising on acquisition of three business units from SRF Polymers