https://www.taxtmi.com/caselaws?id=411939 The ITAT dismissed the appeals, ruling that the assessee was not entitled to claim depreciation on goodwill as the deferred sales tax liability could not be considered goodwill. The principle of res judicata was deemed inapplicable to income tax proceedings. The ITAT directed the Assessing Officer to reassess income for specific years and allowed the deduction for the deferred sales tax liability upon actual payment, subject to conditions under the Income Tax Act. en-us Thu, 02 Sep 2021 00:00:00 +0530 Tue, 07 Sep 2021 16:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411939 The ITAT dismissed the appeals, ruling that the assessee was not entitled to claim depreciation on goodwill as the deferred sales tax liability could not be considered goodwill. The principle of res judicata was deemed inapplicable to income tax proceedings. The ITAT directed the Assessing Officer to reassess income for specific years and allowed the deduction for the deferred sales tax liability upon actual payment, subject to conditions under the Income Tax Act. Case-Laws Income Tax Thu, 02 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411939