https://www.taxtmi.com/caselaws?id=787607 Depreciation on goodwill arising from a court-approved amalgamation is allowable where excess consideration over book value was recorded as goodwill in an earlier year and the claim is supported by established precedent. The applicable position treats such goodwill as eligible for depreciation under the Income-tax Act, 1961. For Assessment Year 2017-18, the depreciation claim was allowed because the relevant precedent, including the taxpayer's earlier-year treatment, supported allowability and no contrary authority or distinguishing facts were identified. en-us Wed, 07 Jan 2026 00:00:00 +0530 Tue, 10 Mar 2026 08:51:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787607 Depreciation on goodwill arising from a court-approved amalgamation is allowable where excess consideration over book value was recorded as goodwill in an earlier year and the claim is supported by established precedent. The applicable position treats such goodwill as eligible for depreciation under the Income-tax Act, 1961. For Assessment Year 2017-18, the depreciation claim was allowed because the relevant precedent, including the taxpayer's earlier-year treatment, supported allowability and no contrary authority or distinguishing facts were identified. Case-Laws Income Tax Wed, 07 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787607