https://www.taxtmi.com/caselaws?id=374184 The Revenue's appeal was dismissed due to the tax effect being less than Rs. 20 lakhs, as per CBDT Circular No. 3/2018. The assessee's appeal was partly allowed, granting depreciation on goodwill as excess consideration over net assets, in line with the Supreme Court's decision in CIT v. Smifs Securities Limited. The tribunal concluded that the assessee was entitled to depreciation on goodwill under the Income-tax Act, 1961. en-us Thu, 03 Jan 2019 00:00:00 +0530 Mon, 28 Jan 2019 07:51:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374184 The Revenue's appeal was dismissed due to the tax effect being less than Rs. 20 lakhs, as per CBDT Circular No. 3/2018. The assessee's appeal was partly allowed, granting depreciation on goodwill as excess consideration over net assets, in line with the Supreme Court's decision in CIT v. Smifs Securities Limited. The tribunal concluded that the assessee was entitled to depreciation on goodwill under the Income-tax Act, 1961. Case-Laws Income Tax Thu, 03 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374184