https://www.taxtmi.com/caselaws?id=469430 Goodwill arising from a business transfer or acquisition is treated as an intangible asset within "any other business or commercial rights of similar nature" under Explanation 3(b) to section 32(1) of the Income-tax Act, 1961, and therefore qualifies for depreciation. The Tribunal relied on the Supreme Court's view that excess consideration over net asset value, when recognised as goodwill in a going-concern acquisition, falls within the statutory expression eligible for allowance. The depreciation claim on goodwill was accordingly upheld and the Revenue's challenge failed. en-us Wed, 07 Nov 2012 00:00:00 +0530 Wed, 17 Jun 2026 15:36:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469430 Goodwill arising from a business transfer or acquisition is treated as an intangible asset within "any other business or commercial rights of similar nature" under Explanation 3(b) to section 32(1) of the Income-tax Act, 1961, and therefore qualifies for depreciation. The Tribunal relied on the Supreme Court's view that excess consideration over net asset value, when recognised as goodwill in a going-concern acquisition, falls within the statutory expression eligible for allowance. The depreciation claim on goodwill was accordingly upheld and the Revenue's challenge failed. Case-Laws Income Tax Wed, 07 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469430