https://www.taxtmi.com/caselaws?id=394222 The Tribunal upheld the decision of the AO and CIT(A) to disallow excess depreciation claimed on Goodwill due to discrepancies in net worth valuation for different purposes. The assessee's method of calculating depreciation based on inflated goodwill value was not accepted, as it did not align with the actual goodwill amount. Despite arguments supporting the valuation method, the Tribunal found the discrepancies in net worth computation to be significant, leading to the dismissal of the appeal and affirming the authorities' position on the matter. en-us Fri, 21 Feb 2020 00:00:00 +0530 Sat, 04 Apr 2020 12:36:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394222 The Tribunal upheld the decision of the AO and CIT(A) to disallow excess depreciation claimed on Goodwill due to discrepancies in net worth valuation for different purposes. The assessee's method of calculating depreciation based on inflated goodwill value was not accepted, as it did not align with the actual goodwill amount. Despite arguments supporting the valuation method, the Tribunal found the discrepancies in net worth computation to be significant, leading to the dismissal of the appeal and affirming the authorities' position on the matter. Case-Laws Income Tax Fri, 21 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394222