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2015 (11) TMI 578 - AT - Income TaxDepreciation on goodwill - whether the "goodwill" does not fall within the definition of eligible intangible assets for the claim of depreciation thereupon under section 32(1)(ii)? - Held that:- Issue relating to the depreciation of goodwill has now been settled by the hon'ble Supreme Court in the case of CIT v. Smifs Securities Ltd. [2012 (8) TMI 713 - SUPREME COURT] to held hat the goodwill also falls under the expression "any other business or commercial right of a similar nature" and thus would be an asset under Explanation 3(b) to section 32(1) of the Act, we accordingly hold that the assessee is entitled to the claim of depreciation on goodwill. This issue is accordingly decided in favour of the assessee.
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