https://www.taxtmi.com/caselaws?id=308473 The Tribunal allowed the assessee's appeals, permitting depreciation on goodwill, and dismissed the Revenue's appeals. The dispute regarding depreciation claims on goodwill and non-compete fee for the relevant assessment years was settled on 15th May 2019. The Tribunal held that the difference between the cost of an asset and the amount paid constitutes goodwill, making it depreciable, and upheld the CIT(A)'s decision to allow depreciation on the non-compete fee based on a binding decision by the jurisdictional High Court. en-us Wed, 15 May 2019 00:00:00 +0530 Thu, 29 Jun 2023 08:28:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308473 The Tribunal allowed the assessee's appeals, permitting depreciation on goodwill, and dismissed the Revenue's appeals. The dispute regarding depreciation claims on goodwill and non-compete fee for the relevant assessment years was settled on 15th May 2019. The Tribunal held that the difference between the cost of an asset and the amount paid constitutes goodwill, making it depreciable, and upheld the CIT(A)'s decision to allow depreciation on the non-compete fee based on a binding decision by the jurisdictional High Court. Case-Laws Income Tax Wed, 15 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308473