The Income Tax Appellate Tribunal (ITAT), Bengaluru bench has held that the depreciation under Section 32 of the Income Tax Act, 1961 is allowable on the customer relationship rights since the same would amount to goodwill. The assessee is a subsidiary of Incap OYJ (Incap Finland) and is engaged in the business of manufacturing of […]
The post Customer Relationship Rights are ‘Goodwill’: ITAT allows Depreciation [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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