https://www.taxtmi.com/highlights?id=70052 Depreciation on goodwill - goodwill as acquired during business acquisition - We find merit in the argument of assessee that the net balance of purchase consideration paid, and the value of net assets acquired is Goodwill and the transfer of IP to BluJay UK cannot affect the value of goodwill as the Goodwill is rightly attributed to all the assets acquired from Four Soft and benefits accrued to BluJay India. Once the existence of Goodwill is established, Depreciation on such goodwill cannot be questioned further. - AT en-us Wed, 31 May 2023 10:25:52 +0530 Wed, 31 May 2023 10:25:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=70052 Depreciation on goodwill - goodwill as acquired during business acquisition - We find merit in the argument of assessee that the net balance of purchase consideration paid, and the value of net assets acquired is Goodwill and the transfer of IP to BluJay UK cannot affect the value of goodwill as the Goodwill is rightly attributed to all the assets acquired from Four Soft and benefits accrued to BluJay India. Once the existence of Goodwill is established, Depreciation on such goodwill cannot be questioned further. - AT Highlights Income Tax Wed, 31 May 2023 10:25:52 +0530 https://www.taxtmi.com/highlights?id=70052