https://www.taxtmi.com/caselaws?id=438809 The Appellate Tribunal ITAT Delhi upheld the allowance of depreciation on Goodwill in a case where the sale of slump sale to a subsidiary company was not considered a transfer under the Income Tax Act, 1961. The Tribunal relied on previous judicial decisions and commercial prudence in valuing Goodwill using the Discount Cash Flow Method. Additionally, the Tribunal dismissed the appellant's request to modify grounds of appeal, citing similarity with a previous case. The Revenue's appeal was ultimately dismissed, affirming the depreciation allowance and rejecting the appellant's appeal modification request. en-us Tue, 23 May 2023 00:00:00 +0530 Fri, 09 Jun 2023 08:55:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438809 The Appellate Tribunal ITAT Delhi upheld the allowance of depreciation on Goodwill in a case where the sale of slump sale to a subsidiary company was not considered a transfer under the Income Tax Act, 1961. The Tribunal relied on previous judicial decisions and commercial prudence in valuing Goodwill using the Discount Cash Flow Method. Additionally, the Tribunal dismissed the appellant's request to modify grounds of appeal, citing similarity with a previous case. The Revenue's appeal was ultimately dismissed, affirming the depreciation allowance and rejecting the appellant's appeal modification request. Case-Laws Income Tax Tue, 23 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438809