https://www.taxtmi.com/caselaws?id=463687 HC held that goodwill qualifies as an "asset" under Explanation 3(b) to Section 32(1) and depreciation on goodwill arising from the merger is allowable to the assessee. The court allowed deduction under section 37(1) for donations made to a voluntary organisation. Regarding section 80IA(4), HC construed "power" in its ordinary sense as "energy" and held that steam produced by the captive plant constitutes power, thereby entitling the assessee to benefits under section 80IA(4). en-us Mon, 22 Jan 2024 00:00:00 +0530 Thu, 11 Sep 2025 18:57:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463687 HC held that goodwill qualifies as an "asset" under Explanation 3(b) to Section 32(1) and depreciation on goodwill arising from the merger is allowable to the assessee. The court allowed deduction under section 37(1) for donations made to a voluntary organisation. Regarding section 80IA(4), HC construed "power" in its ordinary sense as "energy" and held that steam produced by the captive plant constitutes power, thereby entitling the assessee to benefits under section 80IA(4). Case-Laws Income Tax Mon, 22 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463687