https://www.taxtmi.com/caselaws?id=271379 The appeal filed by the Revenue challenging the disallowance of depreciation on goodwill and royalty paid was dismissed. The court held that goodwill qualifies as an intangible asset eligible for depreciation under Section 32 of the Income Tax Act, following precedent and the definition of intangible assets. Additionally, the royalty paid was deemed legitimate as the benefit transferred was not exclusive and enduring, as specified in the agreement. The decision was pronounced on 06 Jan., 2015. en-us Wed, 06 Jan 2016 00:00:00 +0530 Wed, 03 Feb 2016 06:52:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271379 The appeal filed by the Revenue challenging the disallowance of depreciation on goodwill and royalty paid was dismissed. The court held that goodwill qualifies as an intangible asset eligible for depreciation under Section 32 of the Income Tax Act, following precedent and the definition of intangible assets. Additionally, the royalty paid was deemed legitimate as the benefit transferred was not exclusive and enduring, as specified in the agreement. The decision was pronounced on 06 Jan., 2015. Case-Laws Income Tax Wed, 06 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271379