Karnataka High Court allows depreciation on intangible assets vested in a Company on corporatization of the Partnership Firm

The Hon’ble Karnataka High Court in its recent ruling1 has upheld the allowance of tax depreciation on intangible assets vested in a Company pursuant to corporatization (i.e. conversion) of a Partnership Firm (‘Firm’) into a Company

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Karnataka High Court allows depreciation on intangible assets vested in a Company on corporatization of the Partnership Firm

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