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

FCS Deepak Pratap Singh , Last updated: 12 November 2021  
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INCOME TAX QUESTIONS ANSWERS SERIES XXV QUESTION 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

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Published by

FCS Deepak Pratap Singh
(Associate Vice President - Secretarial & Compliance (SBI General Insurance Co. Ltd.))
Category Income Tax   Report

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