https://www.taxtmi.com/caselaws?id=447623 The ITAT Hyderabad allowed the assessee's appeal regarding depreciation on goodwill acquired through amalgamation. The Tribunal held that appellate authorities can consider additional depreciation claims even if not raised in original or revised returns, citing Goetze (India) Ltd. The Tribunal ruled that goodwill arising from excess consideration paid during amalgamation is eligible for depreciation, following Smifs Securities. Under Explanation 5 to Section 32(1), depreciation must be allowed regardless of whether claimed by the assessee. The Revenue is obligated to allow such depreciation, and the disallowance was deleted. en-us Tue, 26 Dec 2023 00:00:00 +0530 Fri, 10 Apr 2026 15:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447623 The ITAT Hyderabad allowed the assessee's appeal regarding depreciation on goodwill acquired through amalgamation. The Tribunal held that appellate authorities can consider additional depreciation claims even if not raised in original or revised returns, citing Goetze (India) Ltd. The Tribunal ruled that goodwill arising from excess consideration paid during amalgamation is eligible for depreciation, following Smifs Securities. Under Explanation 5 to Section 32(1), depreciation must be allowed regardless of whether claimed by the assessee. The Revenue is obligated to allow such depreciation, and the disallowance was deleted. Case-Laws Income Tax Tue, 26 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447623