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Court Debates Depreciation on Goodwill; Questions Motive Behind Rs. 45.48 Crore Payment for Rs. 10.93 Crore Benefit.
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....Disallowance of depreciation on goodwill - We do not concur with the observations of the DRP that the assessee, with the motive of reducing profits in form of depreciation, had entered into this transaction. In our considered view, no prudent business man would pay a sum of ₹ 45.48 crores to claim depreciation of ₹ 10.93 crores over a period of five years....