https://www.taxtmi.com/caselaws?id=385221 The Tribunal upheld the disallowance of depreciation on Goodwill for the Assessment Year 2012-13, as the Goodwill had ceased to exist in the books of accounts, and the assessee was not deriving any benefit from it. The Tribunal emphasized that depreciation can only be claimed on assets that exist in the books of accounts and are used for business purposes, which was not the case with the Goodwill in question. en-us Wed, 28 Aug 2019 00:00:00 +0530 Fri, 30 Aug 2019 12:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385221 The Tribunal upheld the disallowance of depreciation on Goodwill for the Assessment Year 2012-13, as the Goodwill had ceased to exist in the books of accounts, and the assessee was not deriving any benefit from it. The Tribunal emphasized that depreciation can only be claimed on assets that exist in the books of accounts and are used for business purposes, which was not the case with the Goodwill in question. Case-Laws Income Tax Wed, 28 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385221