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2016 (7) TMI 174 - HC - Income TaxDepreciation u/s 32 on Goodwill - Held that:- Depreciation on goodwill allowed relying on Supreme Court in Smifs Securities [2012 (8) TMI 713 - SUPREME COURT] wherein it was held that the difference between the cost of assets and the amount paid constituted goodwill and that the assessee-Company in the process of amalgamation had acquired a capital right in the form of goodwill because of which the market worth of the assessee-Company stood increased - Decided in favour of assessee.
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