https://www.taxtmi.com/caselaws?id=24962 The court held that the surplus realized on the sale of goodwill, which was purchased and had a determinable cost, is assessable as capital gains under section 45. Additionally, the court ruled that the assessee is not entitled to depreciation on immovable property not transferred by a registered deed of conveyance. The judgment was directed to be forwarded to the Income-tax Appellate Tribunal, Cochin Bench, with each party bearing their respective costs. en-us Wed, 09 Dec 1987 00:00:00 +0530 Sat, 23 Jan 2010 14:02:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24962 The court held that the surplus realized on the sale of goodwill, which was purchased and had a determinable cost, is assessable as capital gains under section 45. Additionally, the court ruled that the assessee is not entitled to depreciation on immovable property not transferred by a registered deed of conveyance. The judgment was directed to be forwarded to the Income-tax Appellate Tribunal, Cochin Bench, with each party bearing their respective costs. Case-Laws Income Tax Wed, 09 Dec 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24962