https://www.taxtmi.com/caselaws?id=285821 The ITAT affirmed the CIT(A)'s decision regarding the allowability of depreciation on goodwill for AY 2009-10. The judgment emphasized the importance of precedent and consistency in tax assessments, noting the relevance of past decisions and legal interpretations in determining current tax liabilities. The ITAT upheld the CIT(A)'s order, dismissing the revenue's appeal, as the assessee correctly claimed depreciation on goodwill as intangible assets, supported by a precedent set in a previous case and in line with the Apex Court's decision in the Smifs Securities Ltd case. en-us Mon, 25 Jul 2016 00:00:00 +0530 Wed, 29 Jan 2020 06:49:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285821 The ITAT affirmed the CIT(A)'s decision regarding the allowability of depreciation on goodwill for AY 2009-10. The judgment emphasized the importance of precedent and consistency in tax assessments, noting the relevance of past decisions and legal interpretations in determining current tax liabilities. The ITAT upheld the CIT(A)'s order, dismissing the revenue's appeal, as the assessee correctly claimed depreciation on goodwill as intangible assets, supported by a precedent set in a previous case and in line with the Apex Court's decision in the Smifs Securities Ltd case. Case-Laws Income Tax Mon, 25 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285821