#intangible assets

Ahmedabad ITAT permits deduction of interest on borrowings acquired via slump sale under Section 36(1)(iii), rejecting Revenue's colourable device and res judicata challenges. Ruling clarifies allowability where assets are put to use, benefiting corporate taxpayers in asset acquisitions.

ITAT Ahmedabad reaffirms that goodwill arising from amalgamations prior to the 2021 Finance Act amendment qualifies for depreciation under Section 32(1) of the Income Tax Act. The ruling reinforces the Smifs Securities precedent, impacting tax treatment for corporate mergers and intangible asset valuation.