https://www.taxtmi.com/caselaws?id=327170 The Tribunal allowed the assessee's appeal by granting the claim of depreciation on goodwill, citing precedents recognizing goodwill as an intangible asset eligible for depreciation. The issue of distribution expenses disallowed in the previous assessment year was remitted back to the CIT(A) for fresh consideration. The Tribunal upheld the deletion of the addition on account of advertisement and sales promotion expenses, emphasizing adherence to the jurisdictional High Court's decision. The department's appeal was dismissed. en-us Fri, 29 Jan 2016 00:00:00 +0530 Thu, 05 May 2016 00:28:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327170 The Tribunal allowed the assessee's appeal by granting the claim of depreciation on goodwill, citing precedents recognizing goodwill as an intangible asset eligible for depreciation. The issue of distribution expenses disallowed in the previous assessment year was remitted back to the CIT(A) for fresh consideration. The Tribunal upheld the deletion of the addition on account of advertisement and sales promotion expenses, emphasizing adherence to the jurisdictional High Court's decision. The department's appeal was dismissed. Case-Laws Income Tax Fri, 29 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327170