https://www.taxtmi.com/caselaws?id=300378 The High Court of Bombay dismissed the appeal challenging the order of the Income Tax Appellate Tribunal for Assessment Year 2009-10 regarding amortization/depreciation on goodwill. The Court upheld the Tribunal's decision allowing the assessee to claim depreciation on goodwill acquired during an amalgamation, citing precedent from the Supreme Court. The Court emphasized the settled nature of the issue based on previous decisions and concurred with the lower authorities' findings, leading to the dismissal of the appeal without costs. The judgment underscores the significance of established legal principles and precedent in tax treatment matters involving goodwill and depreciation. en-us Tue, 05 Nov 2019 00:00:00 +0530 Fri, 28 Jan 2022 19:40:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300378 The High Court of Bombay dismissed the appeal challenging the order of the Income Tax Appellate Tribunal for Assessment Year 2009-10 regarding amortization/depreciation on goodwill. The Court upheld the Tribunal's decision allowing the assessee to claim depreciation on goodwill acquired during an amalgamation, citing precedent from the Supreme Court. The Court emphasized the settled nature of the issue based on previous decisions and concurred with the lower authorities' findings, leading to the dismissal of the appeal without costs. The judgment underscores the significance of established legal principles and precedent in tax treatment matters involving goodwill and depreciation. Case-Laws Income Tax Tue, 05 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300378