https://www.taxtmi.com/caselaws?id=13805 The court determined that there was no goodwill attached to the assessee's cinema theatre, despite the assessee's claim. The Income-tax Officer, Commissioner of Income-tax (Appeals), and Tribunal all found no evidence of generated goodwill, emphasizing the importance of locality in defining goodwill. Various valuation methods were considered, including the super profit method, but ultimately, the court ruled in favor of the Revenue, concluding that no goodwill existed in the business transaction. en-us Thu, 16 Aug 2001 00:00:00 +0530 Thu, 02 Jul 2009 18:57:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13805 The court determined that there was no goodwill attached to the assessee's cinema theatre, despite the assessee's claim. The Income-tax Officer, Commissioner of Income-tax (Appeals), and Tribunal all found no evidence of generated goodwill, emphasizing the importance of locality in defining goodwill. Various valuation methods were considered, including the super profit method, but ultimately, the court ruled in favor of the Revenue, concluding that no goodwill existed in the business transaction. Case-Laws Income Tax Thu, 16 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13805