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1994 (2) TMI 123 - ITAT HYDERABAD-BExtract: .......t three years. A purchaser pays for goodwill, among other things, not for the past profits the business has earned, but for its ability, capacity and propensity to earn profits in the future years. Three years purchase is a normal concept in computation of goodwill. Thus, we uphold the order of the CIT(A). 8. In the result, the appeal is dismissed.
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