Allowing the appeal of the assessee the Tribunal held that the assessee has rightly claimed the depreciation on excess consideration paid over and above net asset value of Amalgamating company is good will and can be amortised in the books of account of the amalgamated company. Depreciation was rightly allowed by the Assessing Officer. Revision order was quashed. (AY. 2015-16)
Trivitron Healthcare P. Ltd. v. PCIT (2022) 98 ITR 105 / 2023) 225 TTJ 181/ 146 taxmann.com 130(Chennai) (Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Depreciation-Amalgamation of companies-Accounting Standard 14-Excess consideration paid over and above net asset value of amalgamating Company-Goodwill-Revision was quashed. [S. 32(1)]