Supreme Court rules goodwill from amalgamation is a depreciable intangible asset u/s 32(1) of Income Tax Act.

Supreme Court rules goodwill from amalgamation is a depreciable intangible asset u/s 32(1) of Income Tax Act. https://www.taxtmi.com/highlights?id=71474 Depreciation on goodwill that was created as a result of amalgamation - The judgment rendered in Smifs [2012 (8) TMI 713 - SUPREME COURT] clearly recognises goodwill to be an intangible asset and on which depreciation can clearly be claimed in terms of Section 32(1) of the Act. - HC en-us Mon, 14 Aug 2023 09:26:53 +0530 Wed, 16 Aug 2023 12:47:49 +0530 TaxTMI RSS Generator Supreme Court rules goodwill from amalgamation is a depreciable intangible asset u/s 32(1) of Income Tax Act. https://www.taxtmi.com/highlights?id=71474 Depreciation on goodwill that was created as a result of amalgamation - The judgment rendered in Smifs [2012 (8) TMI 713 - SUPREME COURT] clearly recognises goodwill to be an intangible asset and on which depreciation can clearly be claimed in terms of Section 32(1) of the Act. - HC Highlights Income Tax Mon, 14 Aug 2023 09:26:53 +0530 https://www.taxtmi.com/highlights?id=71474