TaxTMI 
TaxTMI 
2026 (10) TMI 363
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....harma,. For the Respondent: Mr. Nishant Thakkar with Mr. Hiten Thakkar, A. Hasan i/b Mint & Confers,. PC:- 1. Heard Mr. Akhilesh Kumar Sharma, learned Counsel appearing for the Appellant-Revenue. Also heard Mr. Nishant Thakkar, learned Counsel for the Respondent. 2. This Appeal filed by the Revenue under Section 260-A of the Income Tax Act, 1961 (for short 'Act of 1961') is directed ag....
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....ifferent High Courts including the Hon'ble Jurisdictional High Court as well as different Benches of the Tribunal. In fact, in assessee's own case for assessment year 2005-06, the Tribunal has upheld the entitlement of the assessee to claim depreciation on goodwill. In view of the aforesaid, we uphold the order of the learned Commissioner (Appeals) in allowing assessee's claim of depre....
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....lowable?" 5. Questioning the maintainability of this Appeal, Mr. Thakkar, learned Counsel appearing for the Respondent has argued that the core legal issue involved in this proceeding is settled in view of the previous decision of the Hon'ble Supreme Court rendered in the case of Commissioner of Income-ax, Kolkata vs. Smifs Securities Ltd. (2012) 24 taxmann.com 222, whereby, the question has be....
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....e Hon'ble Supreme Court in the case of Smifs Securities Ltd (supra), as Question No.[b], which reads as follows:- "Question No.[b]: "Whether goodwill is an asset within the meaning of Section 32 of the Income Tax Act, 1961, and whether depreciation on 'goodwill' is allowable under the said Section?" The question was answered in the following manner:- "In the circumstances, we ....