https://www.taxtmi.com/caselaws?id=179687 The Tribunal affirmed the allowability of depreciation on goodwill for the assessment year 2003-2004, in line with the legal position established by relevant case law. The decision emphasized that goodwill qualifies as a depreciable asset falling under "any other business or commercial right of a similar nature," as determined by the High Court and Apex Court judgments. The Tribunal's dismissal of the Revenue's appeal upheld the precedent that goodwill, particularly in the context of an amalgamation, is eligible for depreciation. en-us Mon, 13 Oct 2014 00:00:00 +0530 Tue, 08 Mar 2016 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179687 The Tribunal affirmed the allowability of depreciation on goodwill for the assessment year 2003-2004, in line with the legal position established by relevant case law. The decision emphasized that goodwill qualifies as a depreciable asset falling under "any other business or commercial right of a similar nature," as determined by the High Court and Apex Court judgments. The Tribunal's dismissal of the Revenue's appeal upheld the precedent that goodwill, particularly in the context of an amalgamation, is eligible for depreciation. Case-Laws Income Tax Mon, 13 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179687