https://www.taxtmi.com/caselaws?id=325959 The Tribunal dismissed the revenue's appeal and upheld the CIT(A)'s decision to allow the depreciation claim on intangible assets, rejecting the Assessing Officer's presumption that the payment was for goodwill. The Tribunal affirmed that the assessee had acquired intangible assets eligible for depreciation under Section 32(1)(ii), in line with legal precedents supporting depreciation on such assets. The decision was pronounced on 12/02/2016. en-us Fri, 12 Feb 2016 00:00:00 +0530 Sat, 02 Apr 2016 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325959 The Tribunal dismissed the revenue's appeal and upheld the CIT(A)'s decision to allow the depreciation claim on intangible assets, rejecting the Assessing Officer's presumption that the payment was for goodwill. The Tribunal affirmed that the assessee had acquired intangible assets eligible for depreciation under Section 32(1)(ii), in line with legal precedents supporting depreciation on such assets. The decision was pronounced on 12/02/2016. Case-Laws Income Tax Fri, 12 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325959