ITAT Allows Depreciation Claim by Purchaser under Income Tax on Excess Amount Paid Over & Above Net Asset Value

ITAT decision allowing depreciation claims for the excess amount paid over the net asset value of a seller's business. ITAT ruled that the excess amount qualifies as goodwill, eligible for depreciation under Income Tax rules. This decision provides clarity on depreciation treatment in such transactions, impacting how businesses account for goodwill.