https://www.taxtmi.com/caselaws?id=205723 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal. It was found that the acquisition was at arm's length, the valuation by the registered valuer was valid, and there was no basis to treat the excess payment as Goodwill. The Tribunal emphasized that the actual cost to the assessee should be considered for depreciation purposes, as per Section 43(1) of the Income Tax Act. The appeal of the Revenue was dismissed, with the order pronounced in open Court on 24th November 2010. en-us Wed, 24 Nov 2010 00:00:00 +0530 Fri, 31 May 2013 13:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205723 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal. It was found that the acquisition was at arm's length, the valuation by the registered valuer was valid, and there was no basis to treat the excess payment as Goodwill. The Tribunal emphasized that the actual cost to the assessee should be considered for depreciation purposes, as per Section 43(1) of the Income Tax Act. The appeal of the Revenue was dismissed, with the order pronounced in open Court on 24th November 2010. Case-Laws Income Tax Wed, 24 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205723