Court Rules on Asset Acquisition Depreciation and Dismisses Transfer Pricing Objection Involving Associated Enterprise.

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....The High Court's decision addressed two key issues: disallowance of goodwill amount written off and transfer pricing adjustment. Regarding goodwill, the court held that the entire amount paid for acquiring assets should be treated as expenditure for asset acquisition. Since the acquired assets were valued at a certain amount, the remaining balance was rightly treated as an intangible asset, and depreciation was correctly allowed on such intangibles. On transfer pricing, the court noted that the Revenue's grievance pertained to the calculation of arm's length price (ALP) involving an associated enterprise, "eSys Singapore." However, the court found that this associated enterprise was not included as a tested party for determining ALP. Therefore, the Revenue's objection regarding its inclusion as a tested party did not arise in the given facts.....