https://www.taxtmi.com/caselaws?id=468661 Goodwill arising from a genuine slump sale is treated as an intangible asset eligible for depreciation under section 32 of the Income-tax Act, 1961. The transaction was accepted as a slump sale for lump sum consideration, while the requirements of demerger were not met because there was no scheme of arrangement or issue of shares, and it was also not treated as succession of the whole business. Additional claims relating to foreign tax credit and deduction of taxes paid abroad, raised for the first time before the Tribunal, required factual verification and were remanded to the Assessing Officer for fresh consideration after hearing the assessee. en-us Thu, 06 Feb 2025 00:00:00 +0530 Fri, 15 May 2026 12:46:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468661 Goodwill arising from a genuine slump sale is treated as an intangible asset eligible for depreciation under section 32 of the Income-tax Act, 1961. The transaction was accepted as a slump sale for lump sum consideration, while the requirements of demerger were not met because there was no scheme of arrangement or issue of shares, and it was also not treated as succession of the whole business. Additional claims relating to foreign tax credit and deduction of taxes paid abroad, raised for the first time before the Tribunal, required factual verification and were remanded to the Assessing Officer for fresh consideration after hearing the assessee. Case-Laws Income Tax Thu, 06 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468661