https://www.taxtmi.com/highlights?id=84696 The ITAT held that the coupon rate of 11% paid by the assessee company on Compulsorily Convertible Debentures (CCDs) was within the arm's length range based on benchmarking analysis. Hence, the addition made by TPO/DRP treating CCDs as equity was incorrect since CCDs remain debt until converted. Regarding depreciation on goodwill from slump sale, the ITAT allowed depreciation u/s 32, following jurisdictional High Court precedents that goodwill constitutes an intangible asset eligible for depreciation. en-us Thu, 09 Jan 2025 07:46:06 +0530 Thu, 09 Jan 2025 07:46:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=84696 The ITAT held that the coupon rate of 11% paid by the assessee company on Compulsorily Convertible Debentures (CCDs) was within the arm's length range based on benchmarking analysis. Hence, the addition made by TPO/DRP treating CCDs as equity was incorrect since CCDs remain debt until converted. Regarding depreciation on goodwill from slump sale, the ITAT allowed depreciation u/s 32, following jurisdictional High Court precedents that goodwill constitutes an intangible asset eligible for depreciation. Highlights Income Tax Thu, 09 Jan 2025 07:46:06 +0530 https://www.taxtmi.com/highlights?id=84696