Assessee Denied Deduction for Commercial Rights u/ss 35DD and 32 Due to Lack of Consideration and Depreciation Schedule.

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....Claim of deduction u/s 35DD or alternatively u/s 32 - acquiring commercial rights - the assessee has not paid any consideration to acquire the Palakollu Bank, the assessee has not shown any depreciation schedule in the amounts towards goodwill /commercial rights. Therefore, it cannot be considered that the assessee has acquired goodwill/commercial rights - Claim not allowed.....