https://www.taxtmi.com/caselaws?id=285154 The Tribunal dismissed both the assessee's and the Revenue's appeals. The assessee's appeal regarding the deduction of workforce expenditure was not pressed and thus dismissed. The Revenue's appeal on the allowance of the assessee's claim for depreciation on goodwill was also dismissed. The Tribunal upheld the Commissioner (Appeals)'s decision, allowing depreciation on goodwill as an intangible asset. The Tribunal emphasized that appellate authorities can entertain fresh deduction claims supported by facts, even if not made through a revised return of income, aligning with legal precedents and the Supreme Court's interpretation of goodwill. en-us Wed, 24 Aug 2016 00:00:00 +0530 Thu, 14 Nov 2024 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285154 The Tribunal dismissed both the assessee's and the Revenue's appeals. The assessee's appeal regarding the deduction of workforce expenditure was not pressed and thus dismissed. The Revenue's appeal on the allowance of the assessee's claim for depreciation on goodwill was also dismissed. The Tribunal upheld the Commissioner (Appeals)'s decision, allowing depreciation on goodwill as an intangible asset. The Tribunal emphasized that appellate authorities can entertain fresh deduction claims supported by facts, even if not made through a revised return of income, aligning with legal precedents and the Supreme Court's interpretation of goodwill. Case-Laws Income Tax Wed, 24 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285154