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2016 (3) TMI 169 - AT - Income TaxDisallowance of claim of depreciation on "goodwill" under section 32(1)(ii) - Held that:- We direct the Assessing Officer to allow the assessee's claim of depreciation on "good-will" in all the years under consideration as 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 - Decided in favour of assessee.
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