https://www.taxtmi.com/caselaws?id=329576 The High Court admitted the appeals and framed questions regarding the eligibility of goodwill for depreciation under Section 32 of the Income-tax Act, 1961. The court upheld the assessee's claim for depreciation on goodwill, considering the accounting treatment in amalgamations and emphasizing the importance of factual findings and market worth impact. The court relied on previous court decisions and the Apex Court's judgment to dismiss the Revenue's appeal and support the assessee's position on the classification of goodwill as an intangible asset eligible for depreciation. en-us Tue, 21 Jun 2016 00:00:00 +0530 Tue, 30 Jul 2019 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329576 The High Court admitted the appeals and framed questions regarding the eligibility of goodwill for depreciation under Section 32 of the Income-tax Act, 1961. The court upheld the assessee's claim for depreciation on goodwill, considering the accounting treatment in amalgamations and emphasizing the importance of factual findings and market worth impact. The court relied on previous court decisions and the Apex Court's judgment to dismiss the Revenue's appeal and support the assessee's position on the classification of goodwill as an intangible asset eligible for depreciation. Case-Laws Income Tax Tue, 21 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329576