https://www.taxtmi.com/caselaws?id=327286 The Tribunal allowed the appeal, setting aside the disallowance of depreciation on Goodwill and interest expenditure. It held that Goodwill qualifies as an intangible asset for depreciation under Section 32(1) and that advancing loans to subsidiaries for commercial expediency does not warrant interest disallowance. The decision was rendered on April 29, 2016. en-us Fri, 29 Apr 2016 00:00:00 +0530 Wed, 04 May 2016 18:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327286 The Tribunal allowed the appeal, setting aside the disallowance of depreciation on Goodwill and interest expenditure. It held that Goodwill qualifies as an intangible asset for depreciation under Section 32(1) and that advancing loans to subsidiaries for commercial expediency does not warrant interest disallowance. The decision was rendered on April 29, 2016. Case-Laws Income Tax Fri, 29 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327286