Goodwill Acquired under Slump Sale Agreement eligible for Depreciation: ITAT [Read Order]

Goodwill - Slump Sale Agreement - Depreciation - ITAT - Taxscan

The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the depreciation allowable on goodwill acquired under a slump sale agreement under section 32 of the Income Tax Act, 1961. The assessee, AVIS Hospitals India Ltd, has contended that when a purchaser acquires a business on a going concern basis by paying…

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