https://www.taxtmi.com/caselaws?id=456235 ITAT Mumbai ruled on multiple tax issues for the assessee company. On goodwill depreciation acquired through demerger, the matter was remanded to AO to verify if the transferor company had claimed depreciation under Indian tax law. The tribunal deleted 70% disallowance of provision for outstanding expenses, holding that liability duration is irrelevant if genuinely incurred. TDS credit was allowed despite certificates being in the amalgamated company's name, following established precedents. The foreign tax deduction claim was restored to AO for proper examination per HC guidelines. en-us Thu, 02 May 2024 00:00:00 +0530 Mon, 08 Jul 2024 20:19:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456235 ITAT Mumbai ruled on multiple tax issues for the assessee company. On goodwill depreciation acquired through demerger, the matter was remanded to AO to verify if the transferor company had claimed depreciation under Indian tax law. The tribunal deleted 70% disallowance of provision for outstanding expenses, holding that liability duration is irrelevant if genuinely incurred. TDS credit was allowed despite certificates being in the amalgamated company's name, following established precedents. The foreign tax deduction claim was restored to AO for proper examination per HC guidelines. Case-Laws Income Tax Thu, 02 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456235