Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (6) TMI 1364 - AT - Income TaxDepreciation on Goodwill - AO disallowed as assessee has not claimed depreciation on goodwill at the time of filing of return - HELD THAT:-We find that the Ld. CIT(A) deleted the disallowance by relying on the decision of Hon’ble Supreme Court in the case of Smifs Securities Ltd. [2012 (8) TMI 713 - SUPREME COURT] , wherein it was held that “Goodwill is an asset under Explanation 3(b) to section 32(1) and, thus it is eligible for depreciation. We uphold the order of the Ld. CIT(A) on the issue-in-dispute. Accordingly, ground of the Revenue is dismissed.
|