https://www.taxtmi.com/caselaws?id=786714 Whether depreciation on assets acquired under a slump sale is limited to the transferor's written down value was examined under the proviso governing transferred assets; the proviso applies but adoption of transferor WDV requires supporting valuation material, not AO assumptions, and departmental valuation reports on record must be used, with tangible assets valued at those fair market values. Where slump sale consideration exceeds aggregate identifiable tangible assets per valuation, the excess is business/commercial rights (goodwill), an intangible asset eligible for depreciation; accordingly the WDV restriction and attribution of surplus to land were set aside and the AO is directed to recompute depreciation and verify landscaping/internal road claims after hearing. en-us Fri, 30 Jan 2026 00:00:00 +0530 Wed, 18 Feb 2026 10:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786714 Whether depreciation on assets acquired under a slump sale is limited to the transferor's written down value was examined under the proviso governing transferred assets; the proviso applies but adoption of transferor WDV requires supporting valuation material, not AO assumptions, and departmental valuation reports on record must be used, with tangible assets valued at those fair market values. Where slump sale consideration exceeds aggregate identifiable tangible assets per valuation, the excess is business/commercial rights (goodwill), an intangible asset eligible for depreciation; accordingly the WDV restriction and attribution of surplus to land were set aside and the AO is directed to recompute depreciation and verify landscaping/internal road claims after hearing. Case-Laws Income Tax Fri, 30 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786714