https://www.taxtmi.com/caselaws?id=202987 HC held that depreciation claimed on goodwill-representing marketing/trading reputation, trade style, territorial know-how and related commercial rights-qualified as an intangible asset within the block of assets and was eligible for depreciation. The Tribunal's view treating such goodwill as a valuable commercial asset was a plausible interpretation of section 32(1)(ii). Accordingly, the Commissioner's exercise of revisionary power under section 263 was not justified merely because the books labelled the amount as "goodwill," and could not be sustained where a plausible view existed. en-us Fri, 14 Jan 2011 00:00:00 +0530 Mon, 25 Aug 2025 16:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202987 HC held that depreciation claimed on goodwill-representing marketing/trading reputation, trade style, territorial know-how and related commercial rights-qualified as an intangible asset within the block of assets and was eligible for depreciation. The Tribunal's view treating such goodwill as a valuable commercial asset was a plausible interpretation of section 32(1)(ii). Accordingly, the Commissioner's exercise of revisionary power under section 263 was not justified merely because the books labelled the amount as "goodwill," and could not be sustained where a plausible view existed. Case-Laws Income Tax Fri, 14 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202987