Whether depreciation on acquired goodwill allowable under provisions of Income Tax Act 1961

The assessee, purchased a running business from M/s R.G.K. At the time of acquiring the business, the assessee had paid certain amount in respect of trade name, goodwill and for all other business and commercial rights and claimed depreciation on said amount.

source https://www.caclubindia.com/articles/whether-depreciation-on-acquired-goodwill-allowable-under-provisions-of-income-tax-act-1961-46214.asp

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