https://www.taxtmi.com/caselaws?id=414620 Under TNMM, amortization of goodwill and non-compete fees linked to acquisition accounting was treated as an extraordinary, non-recurring item and excluded from operating expenses because it did not form part of the regular cost base for services to associated enterprises. The exclusion of those amounts from the operating margin was therefore justified. For imported medical equipment capitalised in the books, an arm's length price could not be fixed at nil without a proper benchmarking basis, and depreciation could not be denied on that footing. The nil valuation was unsustainable, so the depreciation disallowance was also rejected. en-us Fri, 27 Aug 2021 00:00:00 +0530 Tue, 04 Aug 2026 16:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414620 Under TNMM, amortization of goodwill and non-compete fees linked to acquisition accounting was treated as an extraordinary, non-recurring item and excluded from operating expenses because it did not form part of the regular cost base for services to associated enterprises. The exclusion of those amounts from the operating margin was therefore justified. For imported medical equipment capitalised in the books, an arm's length price could not be fixed at nil without a proper benchmarking basis, and depreciation could not be denied on that footing. The nil valuation was unsustainable, so the depreciation disallowance was also rejected. Case-Laws Income Tax Fri, 27 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414620