https://www.taxtmi.com/caselaws?id=240310 The appeal filed by the assessee was partly allowed as the Tribunal held that goodwill qualifies as an intangible asset eligible for depreciation under Section 32 of the Income Tax Act, 1961. The disallowance of Rs. 16,69,020 on account of depreciation on goodwill was deleted, and the appeal was partly allowed. The initiation of proceedings under section 271(1)(c) for concealment of income or furnishing inaccurate particulars was not extensively discussed in the judgment. en-us Wed, 27 Nov 2013 00:00:00 +0530 Tue, 22 Mar 2016 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240310 The appeal filed by the assessee was partly allowed as the Tribunal held that goodwill qualifies as an intangible asset eligible for depreciation under Section 32 of the Income Tax Act, 1961. The disallowance of Rs. 16,69,020 on account of depreciation on goodwill was deleted, and the appeal was partly allowed. The initiation of proceedings under section 271(1)(c) for concealment of income or furnishing inaccurate particulars was not extensively discussed in the judgment. Case-Laws Income Tax Wed, 27 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240310