https://www.taxtmi.com/caselaws?id=438402 ITAT Hyderabad allowed depreciation on goodwill acquired through business acquisition. The assessee acquired Four Soft's business as a going concern on slump sale basis, with consideration exceeding book value attributed to goodwill. Revenue argued that subsequent transfer of intellectual property to UK entity negated goodwill claim. ITAT held that goodwill represented entire bundle of assets acquired including business contracts, employees, and permits. IP transfer was back-to-back without capital gains, and assessee retained benefits from other acquired assets. Following Avis Hospitals precedent, depreciation on established goodwill was allowed. Appeal decided against revenue. en-us Tue, 16 May 2023 00:00:00 +0530 Mon, 30 Jun 2025 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438402 ITAT Hyderabad allowed depreciation on goodwill acquired through business acquisition. The assessee acquired Four Soft's business as a going concern on slump sale basis, with consideration exceeding book value attributed to goodwill. Revenue argued that subsequent transfer of intellectual property to UK entity negated goodwill claim. ITAT held that goodwill represented entire bundle of assets acquired including business contracts, employees, and permits. IP transfer was back-to-back without capital gains, and assessee retained benefits from other acquired assets. Following Avis Hospitals precedent, depreciation on established goodwill was allowed. Appeal decided against revenue. Case-Laws Income Tax Tue, 16 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438402