Menu
Is written off portion of Goodwill created on amal
Goodwill is created at the time of amalgamation in books of Transferee Company under pooling of Accounts method as per AS14. This goodwill is to be written off in 5 years i.e. 20% every year. Is this written off portion or entire goodwill admissible as deduction in computing taxable income for the company? Under section 32 (as intengible asset)? Any settled case law?
Replies (2)
In similar situation, AO has disallowed our claim of depreciation. I did not find any settled case law.
Did you preferred an appeal? Grounds? Can you pl provide more details?
Recent Topics :
- Query on FCTRS
- APPLICABILITY AND BREAKDOWN OF GST COMPLIANCE ON S
- Advance for supply of goods
- Question for members: how do you manage client doc
- Clarification Required on Invoicing and Receipt of
- SEBI Registered VS NSDL Registered RTA
- Income tax or capital gain tax for Resident Indivi
- PCIT-1 Thane Email address
- CA Fees deduction for non audit case allowed?
- 5th Letter PAN Mismatch with Surname issues still
Related Topics :
CAclubindia
