Goodwill Depreciation: ITAT allows Depreciation Claims for AYs 2016- 18 Despite 2021 Finance Bill Exclusion [Read Order]

The ITAT allowed good will depreciation claims made by the assessee.

By Saagarika Gopinath - On November 28, 2024 1:06 pm - 2 mins read

Itat Ahmedabad-income tax-Depreciation Claims-taxscan

In a recent ruling, the Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) allowed claims for goodwill depreciation from the amalgamation for the assessment years ( AY ) 2016-18 despite the 2021 finance bill exclusion. In this case, the assessee company, Suzlon Energy Ltd., is engaged in the manufacturing of wind turbine…

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