https://www.taxtmi.com/caselaws?id=457098 ITAT held the acquisitions were slump sales, not amalgamations, so the proviso to s.32(1)(ii) did not apply; goodwill arising on those acquisitions is eligible for depreciation. The Tribunal rejected the assessing officer's reliance on an amalgamation precedent as inapplicable. Claim for depreciation relating to AY 2008-09 cannot be allowed in the present appeal for AY 2009-10; the taxpayer must pursue appropriate remedy. Depreciation on computer software is allowed in principle, subject to verification that the earlier AY 2007-08 decision remains undisturbed. AO to verify and adjust any refund/demand while giving effect to the order. en-us Mon, 31 Jul 2023 00:00:00 +0530 Wed, 17 Sep 2025 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457098 ITAT held the acquisitions were slump sales, not amalgamations, so the proviso to s.32(1)(ii) did not apply; goodwill arising on those acquisitions is eligible for depreciation. The Tribunal rejected the assessing officer's reliance on an amalgamation precedent as inapplicable. Claim for depreciation relating to AY 2008-09 cannot be allowed in the present appeal for AY 2009-10; the taxpayer must pursue appropriate remedy. Depreciation on computer software is allowed in principle, subject to verification that the earlier AY 2007-08 decision remains undisturbed. AO to verify and adjust any refund/demand while giving effect to the order. Case-Laws Income Tax Mon, 31 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457098