https://www.taxtmi.com/caselaws?id=397651 The Tribunal allowed the assessee's claim for depreciation on goodwill arising from an amalgamation, citing the Supreme Court decision in CIT vs. Smifs Securities Ltd. The Tribunal also permitted claiming depreciation on goodwill through revised computation, following precedents allowing new claims during appellate proceedings. However, depreciation on capital assets purchased from suspicious parties was partially disallowed due to potential grey market involvement. The appeal was partly allowed, granting depreciation on goodwill and capital assets (excluding VAT portion) on a recurring basis. en-us Fri, 07 Aug 2020 00:00:00 +0530 Tue, 25 Aug 2020 17:49:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397651 The Tribunal allowed the assessee's claim for depreciation on goodwill arising from an amalgamation, citing the Supreme Court decision in CIT vs. Smifs Securities Ltd. The Tribunal also permitted claiming depreciation on goodwill through revised computation, following precedents allowing new claims during appellate proceedings. However, depreciation on capital assets purchased from suspicious parties was partially disallowed due to potential grey market involvement. The appeal was partly allowed, granting depreciation on goodwill and capital assets (excluding VAT portion) on a recurring basis. Case-Laws Income Tax Fri, 07 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397651