https://www.taxtmi.com/caselaws?id=466681 Goodwill arising on a court sanctioned amalgamation recorded as excess consideration is treated as an intangible asset within Explanation 3(b) to Section 32(1) and thus eligible for depreciation; the statutory bar introduced later does not affect the year in issue. A compulsory contribution made to regularize effluent discharge, mandated for continued operation, which creates no proprietary asset or enduring benefit and cannot confer ownership of the CETP, is revenue in nature and deductible as an essential business expense under Section 37(1). Both positions favour the taxpayer on the issues addressed. en-us Wed, 26 Nov 2025 00:00:00 +0530 Sat, 14 Feb 2026 13:38:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466681 Goodwill arising on a court sanctioned amalgamation recorded as excess consideration is treated as an intangible asset within Explanation 3(b) to Section 32(1) and thus eligible for depreciation; the statutory bar introduced later does not affect the year in issue. A compulsory contribution made to regularize effluent discharge, mandated for continued operation, which creates no proprietary asset or enduring benefit and cannot confer ownership of the CETP, is revenue in nature and deductible as an essential business expense under Section 37(1). Both positions favour the taxpayer on the issues addressed. Case-Laws Income Tax Wed, 26 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466681