https://www.taxtmi.com/caselaws?id=201786 HC upheld the tribunal, holding that depreciation claimed on goodwill and similar commercial rights falls within the expanded scope of intangible assets under Section 32(1)(ii) post-1998 amendment. Where the AO accepted a plausible view treating the payment as goodwill for marketing, trade name, territorial know-how and business reputation, the Commissioner was not justified in invoking revision under Section 263 merely because the books described the item as "goodwill." Two reasonable views existing meant the exercise of revisionary power was inappropriate. en-us Fri, 14 Jan 2011 00:00:00 +0530 Sat, 04 Oct 2025 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201786 HC upheld the tribunal, holding that depreciation claimed on goodwill and similar commercial rights falls within the expanded scope of intangible assets under Section 32(1)(ii) post-1998 amendment. Where the AO accepted a plausible view treating the payment as goodwill for marketing, trade name, territorial know-how and business reputation, the Commissioner was not justified in invoking revision under Section 263 merely because the books described the item as "goodwill." Two reasonable views existing meant the exercise of revisionary power was inappropriate. Case-Laws Income Tax Fri, 14 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201786