https://www.taxtmi.com/caselaws?id=203081 HC held that goodwill arising from purchase of a running hospital, including its name and trademark, constitutes an intangible asset eligible for depreciation under s.32(1)(ii). The excess amount paid over tangible assets was treated as payment for goodwill, aimed at preserving the hospital's reputation and ensuring continuity of business, akin to business or commercial rights such as trademark, franchise, or copyright. HC concluded that goodwill falls within the residuary category of intangible assets and directed the AO to revise the assessment allowing depreciation on its written down value. en-us Thu, 23 Sep 2010 00:00:00 +0530 Thu, 20 Nov 2025 16:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203081 HC held that goodwill arising from purchase of a running hospital, including its name and trademark, constitutes an intangible asset eligible for depreciation under s.32(1)(ii). The excess amount paid over tangible assets was treated as payment for goodwill, aimed at preserving the hospital's reputation and ensuring continuity of business, akin to business or commercial rights such as trademark, franchise, or copyright. HC concluded that goodwill falls within the residuary category of intangible assets and directed the AO to revise the assessment allowing depreciation on its written down value. Case-Laws Income Tax Thu, 23 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203081