https://www.taxtmi.com/highlights?id=97518 Depreciation on goodwill arising on amalgamation is treated as allowable because such goodwill constitutes an intangible asset and is eligible for depreciation; earlier decisions relied upon by the taxpayer support this principle and the appellate authority accepted the claim, resulting in allowance of depreciation. The legal point emphasises that goodwill recorded on merger qualifies as depreciable intangible property for tax purposes, and reliance on prior accounting recognition and precedent was determinative of the deductibility outcome. en-us Tue, 10 Mar 2026 08:51:27 +0530 Tue, 10 Mar 2026 08:51:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=97518 Depreciation on goodwill arising on amalgamation is treated as allowable because such goodwill constitutes an intangible asset and is eligible for depreciation; earlier decisions relied upon by the taxpayer support this principle and the appellate authority accepted the claim, resulting in allowance of depreciation. The legal point emphasises that goodwill recorded on merger qualifies as depreciable intangible property for tax purposes, and reliance on prior accounting recognition and precedent was determinative of the deductibility outcome. Highlights Income Tax Tue, 10 Mar 2026 08:51:27 +0530 https://www.taxtmi.com/highlights?id=97518