https://www.taxtmi.com/caselaws?id=312661 Assessment against an amalgamating company that has ceased to exist after amalgamation and conversion into an LLP is treated as a jurisdictional nullity. Continued participation, correspondence in the former name and section 292B do not cure assessment proceedings against a non-existent entity. Goodwill created by excess purchase consideration over net assets in an approved amalgamation is characterised as an intangible business or commercial right eligible for depreciation under section 32(1). Its absence from the transferor's books does not reduce its value to nil, and the subsequent exclusion of goodwill from depreciation applies prospectively rather than to earlier assessment years. en-us Fri, 15 Sep 2023 00:00:00 +0530 Fri, 01 Mar 2024 05:51:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312661 Assessment against an amalgamating company that has ceased to exist after amalgamation and conversion into an LLP is treated as a jurisdictional nullity. Continued participation, correspondence in the former name and section 292B do not cure assessment proceedings against a non-existent entity. Goodwill created by excess purchase consideration over net assets in an approved amalgamation is characterised as an intangible business or commercial right eligible for depreciation under section 32(1). Its absence from the transferor's books does not reduce its value to nil, and the subsequent exclusion of goodwill from depreciation applies prospectively rather than to earlier assessment years. Case-Laws Income Tax Fri, 15 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312661