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2010 (9) TMI 434 - HC - Income TaxDepreciation on goodwill - The purchase of the hospital by the assessee with its name and trade mark as a going concern involves any purchase of goodwill - The purpose of paying a very huge amount for goodwill is for maintenance of the continued reputation of the hospital which was run in the same name for several years - When the goodwill paid is for ensuring retention and continued business in the hospital, it is certainly for acquiring a business and commercial rights and it is certainly comparable with trade mark, franchise, copyright etc., referred to in the first part of subclause (ii) of section 32(1) - AO directed to revise the assessment by granting depreciation on the written down value of goodwill to the appellant-assessee.
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