https://www.taxtmi.com/caselaws?id=266338 The Tribunal ruled in favor of the appellant, allowing the claim for depreciation on goodwill for the relevant assessment year. The decision was based on the interpretation of goodwill as an intangible asset falling under Explanation 3(b) of Section 32(1) of the Income Tax Act. The Tribunal's decision aligned with previous judgments and established that goodwill is comparable to other intangible assets like trademarks, making it eligible for depreciation. The Tribunal emphasized the consistent application of legal principles and precedents to support its ruling, ultimately granting relief to the appellant and overturning the disallowance of depreciation on goodwill. en-us Fri, 12 Jun 2015 00:00:00 +0530 Mon, 19 Oct 2015 20:35:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266338 The Tribunal ruled in favor of the appellant, allowing the claim for depreciation on goodwill for the relevant assessment year. The decision was based on the interpretation of goodwill as an intangible asset falling under Explanation 3(b) of Section 32(1) of the Income Tax Act. The Tribunal's decision aligned with previous judgments and established that goodwill is comparable to other intangible assets like trademarks, making it eligible for depreciation. The Tribunal emphasized the consistent application of legal principles and precedents to support its ruling, ultimately granting relief to the appellant and overturning the disallowance of depreciation on goodwill. Case-Laws Income Tax Fri, 12 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266338