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2013 (7) TMI 169 - HC - Income TaxDepreciation on goodwill - business or commercial rights acquired - ITAT allowed the depreciaion - Held that:- goodwill is an asset under Explanation 3(b) to section 32(1) - Therefore, the depreciation is leviable even on the goodwill - Following decision of CIT v. SMIFS Securities Ltd [2012 (8) TMI 713 - SUPREME COURT] - Decided in favour of Assessee.
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