An Amalgamated Company can claim Depreciation on Goodwill, No restriction u/s 32(1)(5): ITAT [Read Order]

By Taxscan Team - On November 28, 2022 12:06 pm - 2 mins read
Amalgamated Company - Depreciation - Goodwill - ITAT - taxscan

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held that an Amalgamated company can claim depreciation on goodwill and there is no restriction under section  32(1)(5) of the Income Tax Act,1961. M/s.Trivitron Healthcare Pvt. Ltd., the assessee filed appeal against the order of the Principal Commissioner of Income Tax-3, Chennai, dated 22.03.2019…

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