Transaction can’t be regarded as colorable merely on the basis that assessee claimed Depreciation on Goodwill in Amalgamation Scheme: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench held that the transaction can not be regarded as a colorable device merely on the basis that assessee claimed depreciation on goodwill in amalgamation scheme. The assessee, Urmin Marketing Pvt. Ltd. known as Unicorn Packaging LLP “Urmin House” is a Private Limited Company. The assessee company took […]

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