https://www.taxtmi.com/caselaws?id=121250 The Tribunal set aside the Commissioner's order, ruling that the jurisdiction under Section 263 was erroneously invoked. The appeal was allowed, confirming that the depreciation claim on goodwill was valid as it was not patently inadmissible. The decision emphasized that the true nature of the asset, not its designation, governs eligibility for depreciation under the Income-tax Act. en-us Tue, 25 Aug 2009 00:00:00 +0530 Wed, 04 Oct 2023 18:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121250 The Tribunal set aside the Commissioner's order, ruling that the jurisdiction under Section 263 was erroneously invoked. The appeal was allowed, confirming that the depreciation claim on goodwill was valid as it was not patently inadmissible. The decision emphasized that the true nature of the asset, not its designation, governs eligibility for depreciation under the Income-tax Act. Case-Laws Income Tax Tue, 25 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121250