https://www.taxtmi.com/caselaws?id=382329 The Appellate Tribunal ITAT BANGALORE upheld the CIT(A)'s decision regarding the allowance of depreciation on intangible assets and goodwill. The Tribunal dismissed the revenue's appeal, emphasizing that expenses incurred for the business must be allowed under the provisions of the Act. It relied on previous judgments and legal interpretations to support its findings, ultimately affirming the allowance of depreciation on both intangible assets and goodwill based on the amalgamation process and increase in market worth. en-us Fri, 28 Jun 2019 00:00:00 +0530 Sat, 29 Jun 2019 15:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382329 The Appellate Tribunal ITAT BANGALORE upheld the CIT(A)'s decision regarding the allowance of depreciation on intangible assets and goodwill. The Tribunal dismissed the revenue's appeal, emphasizing that expenses incurred for the business must be allowed under the provisions of the Act. It relied on previous judgments and legal interpretations to support its findings, ultimately affirming the allowance of depreciation on both intangible assets and goodwill based on the amalgamation process and increase in market worth. Case-Laws Income Tax Fri, 28 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382329