Depreciation Must Be Allowed on Revised ITRs, Revenue Obligated to Include Goodwill Even if Not Initially Claimed.

Depreciation Must Be Allowed on Revised ITRs, Revenue Obligated to Include Goodwill Even if Not Initially Claimed. https://www.taxtmi.com/highlights?id=73875 Claim of depreciation - Fresh claim made in the revised ITR - irrespective of the fact of assessee claiming or not, the depreciation shall be allowed while computing the total income of the assessee. Then it becomes the obligation on the part of the Revenue to allow depreciation on goodwill even if it is not claimed by the assessee. - AT en-us Mon, 01 Jan 2024 07:15:47 +0530 Mon, 01 Jan 2024 07:15:47 +0530 TaxTMI RSS Generator Depreciation Must Be Allowed on Revised ITRs, Revenue Obligated to Include Goodwill Even if Not Initially Claimed. https://www.taxtmi.com/highlights?id=73875 Claim of depreciation - Fresh claim made in the revised ITR - irrespective of the fact of assessee claiming or not, the depreciation shall be allowed while computing the total income of the assessee. Then it becomes the obligation on the part of the Revenue to allow depreciation on goodwill even if it is not claimed by the assessee. - AT Highlights Income Tax Mon, 01 Jan 2024 07:15:47 +0530 https://www.taxtmi.com/highlights?id=73875