https://www.taxtmi.com/caselaws?id=179398 The appeals by the Revenue against the disallowance of depreciation on goodwill for the assessment years 2004-2005, 2005-2006, and 2006-2007 were dismissed. The CIT(A) upheld the position that the payments made were for acquiring intangible assets and business tools, not solely for goodwill, as supported by the retirement deed indicating the acquisition of exclusive marketing and business rights. Consequently, the denial of depreciation on goodwill was deemed unjustified, leading to the dismissal of the Revenue's appeals. en-us Mon, 12 Dec 2011 00:00:00 +0530 Mon, 29 Feb 2016 12:20:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179398 The appeals by the Revenue against the disallowance of depreciation on goodwill for the assessment years 2004-2005, 2005-2006, and 2006-2007 were dismissed. The CIT(A) upheld the position that the payments made were for acquiring intangible assets and business tools, not solely for goodwill, as supported by the retirement deed indicating the acquisition of exclusive marketing and business rights. Consequently, the denial of depreciation on goodwill was deemed unjustified, leading to the dismissal of the Revenue's appeals. Case-Laws Income Tax Mon, 12 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179398