https://www.taxtmi.com/caselaws?id=785565 Goodwill arising from the acquisition of a going concern through a slump sale qualifies as an intangible asset depreciable under section 32(1)(ii), as it represents business or commercial rights of a similar nature. Where licences, approvals and commercial rights transfer with the undertaking, residual consideration recorded as goodwill is supported by acquired intangible rights rather than a mere accounting entry. The fifth proviso to section 32(1), which restricts aggregate depreciation in specified amalgamation or succession situations, does not apply to a slump sale between unrelated parties. Depreciation on such goodwill is therefore allowable. en-us Thu, 22 Jan 2026 00:00:00 +0530 Tue, 27 Jan 2026 07:36:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785565 Goodwill arising from the acquisition of a going concern through a slump sale qualifies as an intangible asset depreciable under section 32(1)(ii), as it represents business or commercial rights of a similar nature. Where licences, approvals and commercial rights transfer with the undertaking, residual consideration recorded as goodwill is supported by acquired intangible rights rather than a mere accounting entry. The fifth proviso to section 32(1), which restricts aggregate depreciation in specified amalgamation or succession situations, does not apply to a slump sale between unrelated parties. Depreciation on such goodwill is therefore allowable. Case-Laws Income Tax Thu, 22 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785565