Depreciation on goodwill allowed under Section 43(1), search quashed, and MAT deduction remanded for correct computation

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....The ITAT upheld the allowance of depreciation on goodwill arising from a High Court-approved amalgamation scheme, emphasizing the Revenue's prior acceptance of the goodwill valuation and rejecting disallowance under Explanation 7 to section 43(1). The MAT deduction for unabsorbed business loss and depreciation was remanded to the AO for correct computation per statutory provisions. The initiation of search proceedings under section 153A was quashed due to lack of relevant incriminating material. Disallowance of CENVAT credit and section 14A disallowance were negated as the assessee consistently followed an accepted accounting method and had sufficient own funds. Marked-to-market loss on foreign exchange hedging was held allowable under sect.........