https://www.taxtmi.com/caselaws?id=791404 Goodwill acquired along with a business was treated as part of the purchase cost, and its valuation was not restricted to nil where earlier orders had accepted the goodwill valuation. Depreciation on such goodwill was held allowable as an intangible asset under section 32(1)(ii) of the Income-tax Act, 1961 for the relevant years, following the settled position in the assessee's own prior years. The later amendment excluding goodwill from depreciation was treated as prospective only and did not apply retrospectively to the years under consideration. en-us Fri, 08 May 2026 00:00:00 +0530 Mon, 11 May 2026 09:50:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791404 Goodwill acquired along with a business was treated as part of the purchase cost, and its valuation was not restricted to nil where earlier orders had accepted the goodwill valuation. Depreciation on such goodwill was held allowable as an intangible asset under section 32(1)(ii) of the Income-tax Act, 1961 for the relevant years, following the settled position in the assessee's own prior years. The later amendment excluding goodwill from depreciation was treated as prospective only and did not apply retrospectively to the years under consideration. Case-Laws Income Tax Fri, 08 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791404